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Reuters Published
July 1,电报盗号系统免杀破解 2025
Global sourcing and logistics group Li & Fung Ltd on Friday said Temasek Holdings (Private) Ltd would buy 21.7% of its subsidiary LF Logistics Holdings for $300 million, and the proposed spin-off IPO of the unit will be postponed.
Hong Kong’s Li & Fung, which supplies clothing and other products to retailers worldwide, had said earlier that it would seek a separate listing for its logistics business on the Hong Kong Stock Exchange to enhance growth and strengthen financial flexibility.
“The investment from Temasek will allow us to unlock the value of LF Logistics and accelerate its business growth,” Group CEO Spencer Fung said.
Shares in Li & Fung, which had suspended trading on Friday morning, jumped as much as 18.8% to HK$1.45, their highest since April 23.
Dahlia Investments Pte Ltd, an indirect wholly owned unit of Temasek, has agreed to subscribe for the stake of LF Logistics, and the proceeds will be used to fund capital expenditures, repay existing bank facilities, and accelerate growth initiatives at the pan-Asian logistics service provider.
Li & Fung said the investment values its logistics business at $1.4 billion.
The Hong Kong-based company said it would continue to be the controlling shareholder of the unit holding 78.3% on completion of the deal.