Addvalue Technologies Ltd. (A31) has applied to Singapore Exchange Securities Trading Limited for concurrence on a proposed spin-off and initial public offering of its wholly-owned subsidiary, Addvalue Solutions Pte. Ltd. (AVS), on the Nasdaq Stock Market.

The transaction will carve out the group’s Inter-Satellite Data Relay System (IDRS) business—including the supply of IDRS terminals, airtime, design, solutions and related services—into a separate listed entity. Depending on professional advice, AVS and any other IDRS-related entities may be regrouped under a newly incorporated holding company that will seek Nasdaq listing.

Post-listing, Addvalue Technologies intends to retain at least 51% of the holding company’s issued shares and continue its own listing on SGX Mainboard. Business divisions related to Advance Digital Radio, Satcom Connectivity and Strategic Design Services will remain with Addvalue Technologies.

The spin-off remains subject to shareholder approval, regulatory clearances and market conditions. The company has not yet lodged a formal listing application with overseas regulators and cautions that there is no certainty the transaction will proceed.

Addvalue Technologies said it will provide further updates, including details of an upcoming extraordinary general meeting, as developments arise.