News

Markets & Investing

Staff Reporter

, Singapore

Published:

2 years ago

118 views

Logo from OneApex

OneApex anticipates $5.1m from Tuas Seatown stake sale

The company will sell its entire 30% stake to Amwich.

OneFortune Holdings, a wholly-owned subsidiary of Mainbord-listed OneApex Limited, will divest its entire stake in Tuas Seatown Dormitory.

OneFortune Holdings will sell 300,000 ordinary shares or 30% of the total issued and paid-up share capital of Tuas Seatown to Amwich.

OneApex expects a net proceeds of $5.1m from the divestment. Post disposal, Tuas Seatown will cease to be an associated company of OneApex Limited.

Tuas Seatown operates in the hostel and dormitory sector, catering to students, workers, and other individuals. It runs a three-storey workers' dormitory at 69H Tuas South Avenue 1, Seatown Industrial Center.

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