Harry Elias Partnership LLP acts for Longcheer Holdings Limited in the proposed disposal of its wholly-owned subsidiary

Harry Elias Partnership is acting for Longcheer Holdings Limited (Company), a company incorporated in Bermuda and listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX-ST), in respect of a proposed disposal of its wholly-owned subsidiary in the mobile and mobile solutions business  to an interested party for a consideration of approximately S$48.16 million. The proposed disposal constitutes a “major transaction” and an “interested person transaction” under the Listing Rules of the SGX-ST and is subject to the approval of the independent shareholders of the Company. 

The proposed disposal represents an opportunity for the Company to unlock and realise shareholders’ investment return in cash. The net proceeds from the proposed disposal will provide the financial capacity for the Company to return excess cash to its shareholders in the form of proposed special dividends to be declared and distributed to the shareholders. 

The Firm’s team was led by Partner, Claudia Teo, Head of Corporate and Financial Services.