YZJ Financial right to spin off maritime assets
After birthing YZJ Maritime, YZJ Financial could move more aggressively in interesting new directions
If you have ever mistaken Yanzijiang (YZJ) Financial for YZJ Shipbuilding while checking their share prices on your phone, get ready for even more potential confusion.
On Nov 18, a company called YZJ Maritime Development is expected to list on the mainboard of the Singapore Exchange (SGX) by way of an introduction. The company invests in a diverse range of vessels through joint ventures with operating partners, and via finance leases. It also provides loans to shipping companies, and is involved in ship agency and ship broking activities.
The company is being spun out of YZJ Financial, in much the same way that YZJ Financial was spun out of YZJ Shipbuilding back in 2022. Under the deal, YZJ Financial will distribute the 3.48 billion shares it holds in YZJ Maritime to its own shareholders on a one-for-one basis.
Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.
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