SPH to divest entire stake in ShareInvestor.com Holdings

The divestment process is expected to be completed by mid-November and  ShareInvestor.com Holdings will cease to be a subsidiary of Singapore Press Holdings.
The divestment process is expected to be completed by mid-November and ShareInvestor.com Holdings will cease to be a subsidiary of Singapore Press Holdings.PHOTO: ST FILE

Singapore Press Holdings (SPH) is divesting its entire stake in wholly owned subsidiary ShareInvestor.com Holdings for $17 million in a management buyout.

ShareInvestor chief executive Christopher Lee and chief operating officer Lim Dau Hee, together with several key managers and private investors, are undertaking the purchase.

The process is expected to be completed in the middle of this month and the firm will then cease to be an SPH subsidiary.

ShareInvestor, which was founded in 1999, focuses on investor relations, market data and investor education.

SPH acquired all the shares of ShareInvestor in November 2008 for between $12 million and $18 million in cash, depending on whether targets were hit. It did not disclose the final amount.

The net asset value of ShareInvestor as of Aug 31 was approximately $17 million.

The transaction is not expected to have a material effect on the net tangible assets per share or earnings per share of SPH for the financial year ending Aug 31 next year.

  • $17m

  • Net asset value of ShareInvestor as of Aug 31.

Mr Lee said: "We seized the opportunity as we are fully confident of growing our services and regional footprint."

ShareInvestor intends to continue its expansion into other Asian markets while also upgrading its investor relations platform to allow public-listed clients to reach more investors globally.

It will also develop more investment-related education programmes to supplement its existing events and platforms, which include INVEST Fair, the REITs Symposium, the Investor-One website for Catalist companies, and its Inside Invest publication.

Mr Lee said there will be no disruption to any of its services during the transition.

A version of this article appeared in the print edition of The Straits Times on November 01, 2018, with the headline 'SPH to divest entire stake in ShareInvestor.com Holdings'. Print Edition | Subscribe