Raffles Ed clinches SGX no-objection letter for Oriental University City’s spin-off listing

It seeks to be listed on the Hong Kong stock exchange.

Raffles Education is now one step closer to achieving its goal of listing Oriental University City Holdings on the Hong Kong Stock Exchange. The company yesterday reported that it has received a no-objection letter from the SGX with regard to the proposed spin-off listing.

However, Raffles Education also warned that there is no assurance that the Proposed Spin-off Listing will materialise. The firm had first revealed its plans for the spin-off listing early in October this year.

“The Proposed Spin-off Listing is subject to, inter alia, approval of the SEHK, on terms and conditions satisfactory to the Company, as well as the prevailing market conditions. Subject to the listing rules of the SGX-ST, the Company will announce any material updates in connection with the Proposed Spin-off Listing. Please note that the no-objection granted by the SGX-ST is not to be taken as an indication of the merits of the Proposed Spin-off Listing, HKCO, the Company and/or its other subsidiaries,” noted Raffles Education.