Addvalue Technologies said before the market opened on Apr. 27 that it had submitted an application to SGX for a proposed spin-off and Nasdaq listing of its Inter-Satellite Data Relay System business. The Singapore company said it intends to keep at least a 51% stake in the separately listed unit. [1]
The company said on Mar. 13 that it had formed a working team to realise the full potential of the IDRS business. [1]
SGX had concurred with Addvalue's view that the proposed listing would not amount to a chain listing. Addvalue has not given a timetable for the Nasdaq listing in the facts provided. [1]
