Yangzijiang to list spin-off of investment segment in SGX mainboard

CLSA will serve as issue manager of the proposed spin-off and listing.

Yangzijiang Shipbuilding has unveiled plans to spin-off its investment segment and list it on the mainboard of Singapore Exchange Securities Trading Limited.

In an update, the company will conduct its proposed spin-off and listing via transfer of its existing investments to a newly incorporated company.

The company’s shareholders will receive shares in their spin-off company proportionally in the form of dividend in specie.

Meanwhile, Yangzijiang has also appointed professionals in relation to the proposed spin-off and listing namely: CLSA Singapore Pte Ltd as issue manager; Rajah & Tann Singapore LLP and Wood Mallesons as CLSA’s legal advisers; iCapital Holdings (SG) Pte. Ltd. as adviser to the restructuring; PricewaterhouseCoopers Shanghai as tax consultant; Shook Lin and Bok LLP as legal adviser as to Singapore law; Jingtian & Gongcheng as the Company’s legal adviser as to China law.