USP mulls spin-off and listing of Supratechnic on GEM in HK

SINGAPORE (May 30): Oil blending firm USP Group is in preliminary discussions to explore the spin-off listing of its wholly-owned subsidiary Supratechnic on the Growth Enterprise Market (GEM), an alternative stock market set up and operated by the Hong Kong Stock Exchange (HKSE).

Supratechnic is a regional distribution and trading company in marine products, with subsidiaries in Singapore, Malaysia and Indonesia. It represents brands like Raymarine, AB and Sillinger.

USP says it is discussing the proposed listing with several sponsors as well as with professional advisers, including Singapore and Hong Kong legal counsels.

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