Singapore-listed Yangzijiang Shipbuilding is looking to spin off its investment business into a separate entity that will then be listed.
Its intention is to create two separate listed companies, pursue a more targeted business strategy and to accelerate growth, the company said.
"Building on the significant momentum from the shipbuilding segment’s strengthened financial position, operating performance and order book, the group intends to pursue the proposed spin off and listing so as to focus on building the world’s leading ESG [environmental, social, and governance] shipbuilding company," said Yangzijiang.
