LHN proposes spin-off, SGX Listing for co-living unit Coliwoo
The spin-off will not affect LHN's majority stake in Coliwoo Group.
LHN Limited has applied to the Hong Kong Stock Exchange for approval to spin off its subsidiary, Coliwoo Group Pte. Ltd., and list its shares on the Singapore Exchange (SGX-ST).
The proposed spin-off is set to involve the transfer of the group's co-living business to Coliwoo Group, which was incorporated in Singapore on 26 December 2024. Upon the completion of an internal restructuring, Coliwoo Group will hold the co-living business of the company.
The Hong Kong Stock Exchange is reviewing the application, and the SGX-ST has confirmed that the proposed spin-off would not be considered a chain listing, provided it meets all listing requirements.
Maybank Securities Pte. Ltd. has been appointed as the financial adviser and issue manager for the proposed listing of Coliwoo Group on the SGX-ST.
The spin-off will not affect LHN Limited’s majority stake in Coliwoo Group, and the co-living business will remain part of the group’s space optimisation segment.
The spin-off is subject to regulatory approvals and market conditions, and there is no guarantee it will proceed.