Yangzijiang Financial to spin off maritime investments business and list it on SGX
Yangzijiang Financial to spin off maritime investments business and list it on SGX
SINGAPORE - Investment management company Yangzijiang Financial is exploring spinning off its maritime investments business into a new incorporated company that will be listed separately on the mainboard of the Singapore Exchange (SGX), it announced on April 27.
The firm, the financial arm of Yangzijiang Shipbuilding, said the move will help it to unlock its full growth potential.
The proposed transaction involves transferring the group's maritime investments assets into a new spin-off group, which will function as a dedicated maritime investment platform.
The new spin-off group will focus on unlocking value across the maritime value chain and capturing high-growth opportunities in the maritime industry, Yangzijiang Financial said in a media release.
The new spin-off group will be led by Mr Ren Yuanlin, a veteran of the global shipbuilding and maritime industry.
Mr Ren said: 'This is a natural evolution of our strategy.
'Our maritime business is ready to stand on its own, backed by strong fundamentals and a clear vision for expansion. By separating our maritime segment from Yangzijiang Financial's investment platform, we will be better positioned to pursue focused growth while delivering enhanced value to shareholders.'
The group added in its media statement that the proposed spin-off and listing will allow for more efficient capital allocation, tailored to the different strategies of each business.
'Operationally, each company group will benefit from greater agility, streamlined decision-making, and clearer governance. Both will be better equipped to pursue sector-specific partnerships, co-investments, and capital-raising initiatives,' it said.
Meanwhile , the remaining group will continue its focus on funds, diversified asset management capabilities and investment operations, the group said.
'Leveraging Singapore as a strategic hub, the entity is well-positioned to capture growth opportunities in Southeast Asia's emerging investment landscape,' it added.
The proposed spin-off and listing are currently at an exploratory stage. The move is subject to regulatory, shareholder and board approvals. The process is targeted to be completed within six to 12 months.
Sue-Ann Tan is a business correspondent at The Straits Times covering capital markets and sustainable finance.
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