SGX Securities is pleased to welcome Yangzijiang Financial Holding Ltd. to Mainboard under the stock code “YF8”.
Yangzijiang Financial is the spin-off of the investment business of Yangzijiang Shipbuilding (Holdings) Ltd., one of the top shipbuilders globally that is listed on the Mainboard and part of the Straits Times Index (STI). Yangzijiang Financial is a leading investment management and debt investment business in Asia with an established presence in the PRC for more than 14 years. With extensive local market insights and deal sourcing capabilities, Yangzijiang Financial has a proven track record of investment management and strong investment capacity with a deep proprietary capital pool.
Yangzijiang Financial aims to become a leading investment manager in Asia, focusing on long-term value creation. It plans to diversify its portfolio into new asset classes and sectors, with the intention to expand into fund and wealth management. It will also establish its global corporate headquarters in Singapore.
Ren Yuanlin, Executive Chairman, Yangzijiang Financial Holding Ltd., said, “We have received strong support from our shareholders, SGX and relevant working parties to make the listing of Yangzijiang Financial Holding possible and we sincerely thank them for their hard work and contributions. Backed by a strong track record in debt investments and steady returns and leveraging on its extensive network, the Group will further diversify into fund and wealth management business and seek geographical diversification out of China with an added focus on United States, Europe and Southeast Asia. We will remain committed to maximizing shareholders value and distributing sustainable and stable dividends.”
Pol de Win, Senior Managing Director, Head of Global Sales and Origination, SGX Group, said, “We are delighted to welcome Yangzijiang Financial to our growing financial services cluster. The successful spin-off not only unlocks value for Yangzijiang Shipbuilding’s shareholders but also provides Yangzijiang Financial Holding with the flexibility to tap new capital for growth. As a long-term partner supporting Yangzijiang Shipbuilding since it listed on our Mainboard 15 years ago, we look forward to continue working alongside both companies as they seek to chart new growth for their businesses.”
SGX Securities’ financial services cluster has a total number of 23 listings with a combined market capitalisation of approximately S$217 billion.
Yangzijiang Financial Holding Ltd. opened at S$0.69 today.
