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Yangzijiang plans to spin off investment business for separate listing

The Edge Singapore
The Edge Singapore • 1 min read
Yangzijiang plans to spin off investment business for separate listing
The shipbuilding business sits on a record order book of US$8.65 billion as at Nov 1
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Yangzijiang Shipbuilding (Holdings) plans to spin-off its investment business for its separate listing, leaving the core ship building business.

“As two independently run companies, the businesses will be better positioned to deliver long-term

growth and create value for customers and investors,” states the company on Nov 29.

The spin-off might be completed over the next six to 12 months although there’s no absolute certainty this restructuring will go ahead and be completed.

The spin-off business will include microfinancing, debt investments at amortised cost and other investments. It will also target more “more growth-oriented investments”, expand its market reach, industries segments, and also grow its fee-income business.

The shipbuilding business, meanwhile, sits on an order book of US$8.65 billion as at Nov 1, for 165 vessels. This is a record level.

See also: SGX RegCo suggests ways to quicken restructuring process for financially distressed companies

Yangzijiang closed Nov 29 unchanged at $1.30, but up 34% year to date.

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