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Addvalue Technologies Ltd ( (SG:A31) ) just unveiled an announcement.
Addvalue Technologies has applied to the Singapore Exchange for a proposed spin-off listing of its wholly owned subsidiary Addvalue Solutions, which houses the Inter-Satellite Data Relay System business, on the Nasdaq Stock Market. The spin-off will carve out the group’s Space Connectivity activities, with Addvalue planning to retain at least 51% of the new Nasdaq-listed holding company while keeping its own listing on the SGX Mainboard.
The company may first undertake an internal restructuring to group all IDRS-related entities under a new investment holding company ahead of an IPO in the U.S. market. Management stressed that the transaction remains at a preliminary stage, is subject to shareholder approval, regulatory clearances and market conditions, and there is no assurance the listing will proceed, prompting a cautionary note to existing shareholders and potential investors.
More about Addvalue Technologies Ltd
Addvalue Technologies Ltd is a Singapore-based technology group focused on satellite and space connectivity solutions. Its core operations span Space Connectivity, including the Inter-Satellite Data Relay System (IDRS), advanced digital radio, satcom connectivity and strategic design services, serving global communications and space-related markets.
Average Trading Volume: 60,027,263
Technical Sentiment Signal: Buy
Current Market Cap: S$434.6M
For a thorough assessment of A31 stock, go to TipRanks’ Stock Analysis page.