LHN's logistics spin-off to raise $3.6 mil

The Edge Singapore
The Edge Singapore4/20/2022 11:51 PM GMT+08  • 4 min read
LHN's logistics spin-off to raise $3.6 mil
Kelvin Lim will be executive chairman of both LHN and LHN Logistics / Photo: Samuel Isaac Chua
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LHN Logistics has launched an all-placement IPO to raise gross proceeds of $5 million by issuing around 25.2 million new shares at 20 cents each. After deducting listing expenses, the net proceeds will be around $3.6 million.

LHN Logistics, which has two main businesses — transportation and container depot services — is a spin-off from LHN, which is listed on both the Singapore and Hong Kong exchanges. LHN is involved in businesses ranging from facilities management to operating co-living spaces.

Upon completion of the IPO, LHN will continue to hold a stake of 84.1% in LHN Logistics. Based on the IPO price, LHN Logistics is likely to have a market cap of around $33.5 million. LHN now has a market cap of around $137 million.

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