BH Global Signs Loan Assignment Deal for Restructuring; Shares Up 6%

MT Newswires

2025/06/26

BH Global (SGX:BQN) is undertaking internal restructuring as the company plans to spin off and list its subsidiary, Sea Forrest International, according to a filing with the Singapore Exchange on Wednesday.

The company entered into an agreement with Sea Forrest, Sea Forrest Technologies (S) and Sea Forrest Power Solutions for assigning the benefit of a loan of SG$5 million owed by Sea Forrest Power Solutions to Beng Hui Marine Electrical to the company through the issuance of 4,000,000 shares in SFTS at SG$1.25 per share.

If the settlement does not occur by the long-stop date of June 1, 2026, or if the settlement has occurred but the potential spin-off has not completed, under the deal, the settlement will be unwound and the debt will be assigned back to Beng Hui Marine.

Shares of the company were up over 6% in recent trading.

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