LHN, listed on both Hong Kong and Singapore, plans to spin off its logistics business for its separate Catalist listing.
LHN explains that its business is now organised into three different areas: space optimisation business; facilities management and logistics, which will be structured as LHN Logistics.
LHN plans sell at least 5% but not more than 25% of its interest in LHN Logistics.
It has yet to make a formal application to the exchange.
LHN has appointed PrimePartners Corporate Finance to advice this proposed spin off and to also be the continuing sponsor of LHN Logistics if and when the listing is completed.
LHN closed Nov 24 at 36 cents, unchanged for the day, but up 86.84% year to date.
