SingPost (SGX:S08) is seeking approval from its shareholders to divest its Australia business, Freight Management Holdings, at its upcoming extraordinary general meeting on March 13, according to a filing with the Singapore Exchange on Wednesday.
The divestment is expected to unlock a value of AU$1.02 billion and represents a realized gain of around SG$289.5 million.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.