SINGAPORE (Oct 7): Tat Hong Holdings says the company is exploring a possible spin-off of part or all of its tower crane rental business in China.
It intends to do this via a listing on a “reputable stock exchange”.
Tat Hong believes the proposed listing would provide access to additional source of funding to capitalise on growth opportunities for the capital-intensive tower crane rental business in China.
The spin-off would also “increase the overall financial capacity and flexibility of the group to strengthen the growth of its other strategic business units in ASEAN and Australia and unlock shareholder value for the group”, it adds.
Tat Hong closed 1.3% lower at 75.5 cents.
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