Yahoo Finance SingPost appoints BofA Securities as financial advisor for strategic review
The review will focus on SingPost's transition to a logistics business over time.
Singapore Post (SingPost) has appointed Merrill Lynch (Singapore) Pte. Ltd. (BofA Securities) as its exclusive financial advisor to oversee the group’s strategic review.
The group, on July 17, announced that it will be embarking on a strategic review of its portfolio of businesses. This is to enhance shareholder returns and to ensure that the group’s businesses are “appropriately valued” and to enhance shareholder returns, says the group in its statement.
The review, which will also focus on the group’s transition to a logistics business over time, will identify potential businesses or non-core assets that are not expected to earn a return above their cost of capital. Once that’s done, the group may explore possible divestments and capital recycling to support further investments in logistics.
In addition, the review will include optimising the group’s balance sheet and ensuring that its structure “allows its underlying businesses to be appropriately valued, while creating optionality for the future of these businesses”.
SingPost will hold its annual general meeting (AGM) on July 19.
As at 12.30pm, shares in SingPost are trading flat at 48 cents.
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