LHN plans to spin off its co-living business for a separate listing on the mainboard of the Singapore Exchange .
According to LHN, it has grouped the businesses under an entity called Coliwoo Group and that SGX has concurred with LHN's view that the proposed spin-off will not amount to a chain listing.
Besides the co-living businesses, LHN's other activities include facilities management.
Maybank Securities has been appointed the financial adviser for this spin-off listing.
LHN cautions that the proposed spin-off and the final structure of the Coliwoo Group are in their preliminary stages.
The spin-off is also dependent on and subject to, among others, the prevailing market conditions and approvals from the relevant authorities, including the Hong Kong Stock Exchange, the SGX-ST, and the Monetary Authority of Singapore.
See also: Vin’s Holdings closed 16.7% higher at 35 cents on first day of trading
"Accordingly, there is no assurance as to whether and when the proposed spin-off will be implemented or completed," the company adds.
Vin's Holdings, a car dealer, made its trading debut on the SGX on April 15 as a Catalist listing, closing 16.7% higher at 35 cents.
On the other hand, YLF, a candy maker, has withdrawn its prospectus, which was filed just one week before US tariffs shook global markets. If YLK had gone ahead, it would be a Catalist listing as well.
LHN shares closed at 42 cents on April 15, up 1.2% for the day.
