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Tat Seng Packaging proposes spin-off and listing of Suzhou subsidiary on 'suitable stock exchange'

Felicia Tan
Felicia Tan2/25/2021 9:47 PM GMT+08  • 1 min read
Tat Seng Packaging proposes spin-off and listing of Suzhou subsidiary on 'suitable stock exchange'
Shares in Tat Seng Packaging closed 4 cents higher or 6.3% up at 68 cents on Feb 25.
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Tat Seng Packaging, which is 63.95%-owned by Hanwell Holdings, says the company is evaluating the feasibility of a possible spin-off and listing of Tat Seng Packaging (Suzhou) and the group’s other subsidiaries in China on a “suitable stock exchange” to be determined by the company.

Tat Seng’s business in China comprises the operating businesses in the country under Tat Seng Packaging (Suzhou).

According to Tat Seng Packaging, the proposed spin-off and listing will reduce the impact of market and economic conditions in China on the group’s operating businesses in Singapore.

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