ASX-listed 8I Holdings Limited (8IH) is preparing to list its education subsidiary, 8I Education, on the Catalist board of the Singapore Exchange (SGX). The company will undergo a corporate restructuring exercise ahead of the proposed listing.
8I Education is a financial education and training provider with operations in Singapore and Malaysia. Its flagship course, “Millionaire Investor Program” (MIP), focuses on educating laypeople on principles and techniques of value investing. The firm’s education business includes both 8I Education and Value Investing College (Financial Joy Institute Pte Ltd).
8I Holdings is an investment holdings company that takes a value investing approach to acquiring positions in listed companies and private businesses.
The proposed listing will facilitate the expansion plans of the education business without the need to rely on internal resources. The listing will also enable key management personnel of 8IH to primarily focus financial resources on its growing Public Markets Investment and Private Markets Investment business segments.
The public float will see 8IH continue to retain a controlling equity interest in 8IH Education. It will also help the company unlock and increase value for shareholders by improving overall financial capacity and access to capital markets for debt and equity funding via separate listed entities on ASX (Australian Securities Exchange) and SGX.
The proposed listing on the Catalist secondary board is in its preliminary stages and is dependent on, among other things, the results of the preparatory work to be undertaken, requisite approvals from relevant regulatory authorities, compliance with the Catalist Rules, ASX Listing Rules and then-prevailing market conditions. This process is anticipated to take between seven to ten months.
8IH has the intention to raise funds to finance the education business expansion in Asia, which is to be effected through physical offices growth, talent recruitment and management, technology application and the potential acquisitions of complementary businesses in various countries.