In today’s briefing:
- Yangzijiang: Proposed Spin-Off of YZJFH to Unlock Value
Yangzijiang: Proposed Spin-Off of YZJFH to Unlock Value
- Yangzijiang Shipbuilding (YZJSGD SP) aims to spin off Yangzijiang Financial Holdings (YZJFH) through a dividend-in-specie of all the issued YZJFH shares to shareholders on a one-on-one basis.
- YZJFH shares will be listed on the SGX-ST by way of an introduction. The EGM to approve the spin-off will be held on 18 April at 4 pm.
- This transaction will unlock value. Our SoTP valuation is S$1.94 per share, which is a 22% upside to the last close price of S$1.59 per share.
Before it’s here, it’s on Smartkarma
