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HK-listed National Arts eyes $120 mil Singapore listing for trust spin-off

Bloomberg Published on Thu, Apr 06, 2017 / 10:43 AM GMT+8

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SINGAPORE (April 6): Hongkong-listed National Arts Entertainment and Culture Group is seeking a separate listing to spin off its Xiqiao National Arts Film Studio Project as a business trust or real estate investment trust on the Singapore Exchange to raise at least $120 million, according to company statement. National Arts Entertainment focuses on film production and media. The net proceeds will be used for repayment of debt and general working capital.