$YANGZIJIANG SHIPBLDG HLDGS LTD(BS6.SI)$
Yangzijiang Shipbuilding Holdings: Key takeaways from YZJFH call
https://www.dbs.com.sg/treasures/aics/templatedata/article/recentdevelopment/data/en/DBSV/042022/YZJSGD_SP_04122022.xml
DBS Group Research12 Apr 2022
Diversifying and transforming portfolio to have 50% offshore investment and 70% investment / wealth management portfolio
Target ROE of 8-10% with steady dividend yield with >30% payout; Initial external funds of S$500m to grow by 20% pa
YZJFH to be listed on SGX on 28-Apr; YZJ cum-distribution to go-ex on 22-Apr
Plan to launch share buyback post listing if share price trades attractively below book of S$1.08/share
Key takeaways and datapoints:
Key Dates
18 Apr 2022 EGM to approve proposed Spin-off
21 Apr 2022 Last day to trade YZJ shares cum-distribution
22 Apr 2022 Shares of YZJ trade on ex-entitlement basis
27 Apr 2022 Distribution date
28 Apr 2022 Listing of YZJFH on SGX
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