GKE Wins In-Principle Nod to Spin Off Infrastructural Materials Arm on SGX Catalist

GKE Corporation Limited ( (SG:595) ) has shared an update.

GKE Corporation Limited plans to spin off its infrastructural materials and services business via an initial public offering and listing of its Hong Kong-incorporated subsidiary, GKE Holdings (HK) Co., Limited, on the Catalist board of the Singapore Exchange. The Singapore Exchange has issued an in-principle indication that it has no objection to the proposed spin-off, subject to the usual listing requirements and guidelines, and GKE has appointed RHT Capital Pte. Ltd. as its financial adviser for the transaction. The move would separate GKE’s China-focused environmentally friendly building materials operations from its core warehousing and logistics and other strategic investment activities, potentially sharpening the group’s strategic focus and giving investors clearer exposure to the growth prospects of its construction materials business.

More about GKE Corporation Limited

GKE Corporation Limited is a Singapore-incorporated company whose business is organised into two main areas: warehousing and logistics, and strategic investments. Its warehousing and logistics arm provides integrated supply chain solutions, including storage, freight forwarding, transportation, chemical handling and port management services for a broad range of industries locally and globally. Its strategic investments segment covers infrastructural materials and services—such as the manufacturing and supply of environmentally friendly ready-mix concrete, lightweight bricks, building materials and cement products in China—as well as other businesses including indoor farming solutions and the distribution of telecommunications mobile handsets and accessories.

Average Trading Volume: 4,452,488

Technical Sentiment Signal: Buy

Current Market Cap: S$79.85M

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