Hyflux proposes dividend in specie of shares in consumer arm; opens door to Hyfluxshop listing

SINGAPORE (Dec 29): Hyflux has proposed to undertake a dividend in specie of approximately 70% of shares in Hyfluxshop Holdings to entitled shareholders holding Hyflux shares.

Under the proposed distribution, entitled shareholders holding 10 Hyflux Shares as at book closure date would receive one Hyfluxshop share at no charge.

In a statement on Friday, Hyflux says this move is expected to put Hyfluxshop “in a position to consider listing on a recognised stock exchange, should future growth performance be on track and market conditions of the capital markets be favourable.”

---

Related Stories

• MAS boosts enforcement to send message on financial crime
• Oxley proposes to distribute shares in Aspen Group via dividend in specie
• Singapore's probe into Noble Group to conclude in 3Q, says MAS

---