Singapore company briefs: Yangzijiang Shipbuilding (Holdings), ComfortDelGro, Nordic Group and Starburst Holdings, Sarine Technologies and Sunright Ltd.
Yangzijiang Shipbuilding (Holdings)
Yangzijiang Shipbuilding (Holdings) said Monday that SGX-ST agrees with the company’s view that the proposed spinoff and mainboard listing of the investment business, Yangzijiang Financial Holding, via a dividend in specie would not amount to a chain listing, subject to listing requirements.
A chain listing is when a subsidiary or holding company of a listed company seeks a listing of its own. SGX rules do not normally allow a chain listing if the assets to be listed are substantially the same as the listed issuer.
ComfortDelGro said Monday its wholly owned subsidiary ComfortDelGro MedCare has completed its acquisition of a 90 percent stake in Ming Chuan Transportation.
Nordic Group and Starburst Holdings
Nordic Group’s conditional takeover bid for Starburst Holdings has received valid acceptances representing around 69.7 percent of the outstanding shares, over the threshold for making the offer unconditional, according to a filing to SGX Monday.
The offer and closing date have been extended to 7 March, the filing said.
Diamond-processing technology maker Sarine Technologies said Tuessday it is tying up with Kering Group-owned French High Jewellery Maison Boucheron to provide Boucheron-branded diamond reports using tracking infomration branded by Sarine.
“Due to the restriction of movement in Tianjin, China, the level of its production would depend on the rate of production loadings and the return of workforce in compliance with the local Covid-19 protocols,” Sunright said in a filing to SGX.