05.07.2016

Tat Hong abandons tower crane float

Singapore based crane group Tat Hong has announced that it is dropping its plans to list its Chinese tower crane rental business on the Taiwan stock exchange.

The Company cites the current global economic environment as well as the weak and volatile global equity markets as the reason, stating that they are not conducive for the listing, and that any valuation would be unlikely to reflect its intrinsic value. It does not however rule out any future public offering.

Tat Hong owns 82 percent of the Chinese tower crane business and first announced that it was considering a spin off in late 2014. Click here to see Tat Hong may float Chinese tower crane business and then confirmed that it would be the Taiwan exchange in mid 2015 See Taiwan exchange for Tat Hong China and finally it released numbers in the run up to issuing a prospectus in February See Tat Hong releases Chinese crane results