“The transaction is in line with our plans to strengthen balance sheet and sharpen our focus on our core property business in the region,” says Tuan Sing CEO William Liem.
Tuan Sing Holdings has sold a 13% stake in indirectly-held associate Gultech (Jiangsu) Electronics for RMB435 million. On top of this transaction, Tuan Sing is weighing a potential IPO of Gultech in China.
This entity is held by Tuan Sing via a 44.5%-owned associate. At the transacted price, Gultech, which makes printed circuit boards, is valued at RMB3.35 billion.
