Addvalue Technologies and Thakral Corporation pursue asset spin-offs

Singapore-listed companies Addvalue Technologies and Thakral Corporation are pursuing asset spin-offs to unlock shareholder value through different structural approaches.

Addvalue Technologies, a satellite communications provider, has received shareholder approval to spin off its wholly owned subsidiary, Addvalue Solutions (AVS). The subsidiary, which manages the Inter-Satellite Data Relay System (IDRS) to enable connectivity for Low Earth Orbit satellites, will seek an initial public offering on a US exchange, such as Nasdaq or the NYSE. This move is expected to result in a dilution of Addvalue’s indirect equity interest in AVS by no more than 30 per cent. The parent company intends to retain a controlling stake of at least 51% while maintaining its listing on the SGX Mainboard.

Separately, Thakral Corporation is seeking to spin off segments of its lifestyle business into a new entity to be listed on the SGX Mainboard. Thakral expects to retain a majority stake in the new entity, while its real estate and drone venture units remain under the parent company.