Boustead mulls IPO of real estate solutions business

It is currently proposing a demerger.

Mainboard-listed Boustead Singapore today announced that it is currently considering the proposed demerger of its real estate solutions business, with a view towards listing its shares on the SGX Mainboard.

Its real estate solutions business is currently undertaken primarily by its wholly-owned subsidiary, Boustead Projects.
It is envisaged that the Proposed Demerger would involve a restructuring exercise to consolidate the Company’s real estate solutions business under Boustead Projects, followed by a distribution in specie of BP shares to the company’s shareholders.

This will enable shareholders to participate directly in the equity of Boustead Projects. 

The Proposed Transactions, if materialised, will be subject to, among other things, approvals from the SGX-ST, other regulatory authorities and the Shareholders being obtained, if required.