The Board of Yangzijiang Shipbuilding (Holdings) Ltd. (SGX:BS6) proposed to spin off its investment segment on November 29, 2021. Post completion, the spin off entity will be listed on Mainboard of The Singapore Exchange Securities Trading Limited. It is proposed that shareholders of Yangzijiang Shipbuilding will receive shares of the Spin-off Group proportionally in the form of dividend in specie. Following the completion of the Proposed Spin-off and Listing, the Spin-off Group will have greater capital resources and flexibility to form asset management capabilities. Shareholders of Yangzijiang Shipbuilding will get the same quantity of shares in Yangzijiang Financial Holding Ltd.

The transaction is subject to requisite approvals being obtained from the Board, shareholders and the relevant regulatory authorities, compliance with applicable listing rules and the then-prevailing market conditions. As per update on January 24, 222, Yangzijiang Shipbuilding (Holdings) Ltd has received approval from Singapore Stock Exchange. As of April 1, 2022, Yangzijiang Shipbuilding (Holdings) Ltd. issued notice of extraordinary general meeting to its shareholders to be held on April 18, 2022. As of April 18, 2022, shareholders of Yangzijiang Shipbuilding (Holdings) Ltd. has approved the transaction. Ren Yuanlin will be the executive chairman of the company. Yangzijiang Financial Holding will proceed to list on the Singapore Exchange under the ticker symbol "YF8" at 1 pm on Apr 28. Yangzijiang Financial Holding Ltd. got listed on Mainboard of SGX Securities under the stock code YF8 on April 28, 2022.


CLSA Singapore Pte Ltd acted as financial advisor, PricewaterhouseCoopers China Limited acted as accountant, Shook Lin & Bok LLP and Jingtian & Gongcheng acted as legal advisors and iCapital Holdings (SG) Pte. Ltd. acted as restructuring advisor to Yangzijiang Shipbuilding on the Proposed Spin-off and Listing. CLSA Singapore Pte Ltd has appointed Rajah & Tann Singapore LLP and King & Wood Mallesons as its legal advisors.