Yangzijiang Financial receives conditional approval to list YZJ Maritime
It also discloses that it has further capitalised some US$1.5 billion of receivables from its maritime investment segment
[SINGAPORE] Yangzijiang (YZJ) Financial has received a conditional eligibility-to-list (ETL) from the Singapore Exchange for YZJ Maritime Development.
In a bourse filing on Thursday (Oct 30), YZJ Financial said that the listing of its existing maritime investments under YZJ Maritime is subject to the fulfilment of all the conditions set out in the ETL letter.
YZJ Financial also disclosed that it had further capitalised some US$1.5 billion of receivables from YZJ Maritime. This has resulted in the share capital of YZJ Maritime increasing to some US$1.5 billion comprising about 1.5 billion shares.
Thus, the group restructuring exercise referred to in an announcement on Aug 12 has now been completed.
The Accounting and Corporate Regulatory Authority approved the sub-division of the share capital of YZJ Maritime from about 1.5 billion shares to 3.5 billion shares on Oct 27.
Shares of YZJ Financial closed flat at S$1.07 on Thursday.
