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Addvalue Technologies Subsidiary Advances Proposed US Spin-off Listing

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Addvalue Technologies (SGX:A31) subsidiary, Addvalue Solutions, has engaged professionals to support preparatory work for its proposed spin-off listing on the Nasdaq Stock Market or the NYSE, according to a Tuesday filing with the Singapore Exchange.

The subsidiary has appointed a financial adviser and underwriter, along with legal counsels and a US-based auditor, after receiving Singapore Exchange's pre-clearance decision.

The spin-off will cover the satellite communication company's Inter-Satellite Data Relay Systems and IDRS terminals.

Meanwhile, the company will convene an extraordinary general meeting to seek shareholder approval for the proposed listing.

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