LHN (01730) proposes to split Coliwoo Group and list independently on the main board of the SGX

Zhitong Financial App News, LHN (01730) issued an announcement. The company has proposed a spin-off of Coliwoo Group Pte in accordance with Section 15 of the Hong Kong Stock Exchange Listing Rules. Ltd. (Coliwoo Group) shares are listed independently on the main board of the SGX and filed a spin-off application with the Hong Kong Stock Exchange Limited.

Coliwoo Group is an indirect wholly-owned subsidiary of the company. It is a limited company newly incorporated under the laws of the Republic of Singapore on December 26, 2024 and will hold the group's co-living business after the completion of internal restructuring actions to be carried out in connection with the proposed spin-off.

As far as the above is concerned, the company has also applied to the SGX for the proposed spin-off, and the SGX has notified the SGX based on the opinions and statements submitted by the company. The SGX agreed with the company's view that the proposed spin-off would not constitute a chain listing, but subject to the SGX listing rules and guidelines. The SGX reserves the right to amend and/or change the agreement of the Stock Exchange, and the relevant decisions are affected by changes in SGX's policy.

The Group's business is divided into four separate and distinct business segments, namely (i) space optimization business; (ii) property development business; (iii) facility management business; and (iv) energy business. The co-living business is a business under the space optimization business, and the business and operation of the space optimization business is independent of the property development business, facility management business, and energy business.

According to currently available data, assuming the proposed spin-off is successful, it is expected that the company will continue to hold most of Coliwoo Group's shares, while Coliwoo Group (along with its subsidiaries after the restructuring is completed) will continue to be merged into the group.

As of the date of this announcement, the Hong Kong Stock Exchange is still considering the company's 15th application for application guidelines, and Coliwoo Group has not submitted any formal listing application to any relevant supervisory authority. The proposed spin-off is dependent on (among others) the results of the preparations to be carried out, the necessary approval from the relevant regulatory authorities and any relevant third parties, and current market conditions at that time. Therefore, there is no guarantee that the proposed split will be implemented.