Singapore firms are looking at capital raising and acquisitions to fortify their positions in overseas markets. Weiye Holdings will be spinning off Eindec Corp onto the Catalist board to raise growth capital for expanding capacity to meet increased demand for air filtration equipment in China. A-Sonic Aerospace is strengthening its position in Europe, with the acquisition of a majority stake in a UK logistics firm.
Weiye to relist Eindec Corp unit on Catalist
In the aftermath of a reverse takeover (RTO) of Mainboard-listed cleanroom equipment maker Kyodo-Allied Industries in 2011, Chinese property developer Weiye Holdings is now conducting a corporate spinoff of Kyodo-Allied to the SGX Catalist board.
Now rebounded as Eindec Corp, the firm plans to expand into manufacturing and selling air purifiers to mainland Chinese consumers, according to a preliminary offer document. Eindec states that it has factories in Malaysia and Singapore. There is growing demand from emerging markets for clean room equipment and air purifiers in China, it said.
Weiye has lodged a preliminary offer document for the business, currently operating under the Eindec Corp brand, it disclosed in a Singapore Exchange filing on Friday. Eindec’s initial public offering (IPO) will be done entirely through a placement of shares.
Details on the IPO price and trading date have not been made public yet. As on 14 December 2015, Weiye Holdings maintains a market capitalisation of S$71.62 million ($50.78 million), with a price to earnings ratio of 3.19.
A-Sonic Aerospace buys majority in UK logistics firm
A-Sonic Aerospace has acquired a 51 per cent stake in a UK-based logistics company via the subscription of 69,470 new shares of £1 (S$2.13) each, and the joint venture is called A-Sonic Logistics (UK).
Made through one of its subsidiaries, A-Sonic stated it will “serve as an important gateway for our e-fullfilment logistics business to Europe and UK” for the corporation.
According to a filing, it positions A-Sonic Aerospace and its logistics subsidiaries, “A- Sonic Logistics”, to maintain two international city-gateways in London (UK) and Amsterdam (Europe) for the direct injection of shipments from manufacturers in Asia to end-consumers in Europe and the UK.
Additionally, it also enhances and extends the e-fullfilment hub aspect of their e-commerce enterprises, as well as the redistribution to their end-consumers in Europe and UK. A supplementary acquisition, it allows A-Sonic Logistics to replicate its existing Trans-Pacific e-fulfilment business to Europe and the UK.