Fifth Round of Auction for AF Global Subsidiary's Component Fails to Attract Bids

MT Newswires

2025/12/26

AF Global (SGX:L38) said the appointed liquidator conducted a fifth round of auction for the components of the company's joint venture company, Xuzhou Yinjian LumChang Real Estate Development, according to a Friday filing with the Singapore Exchange.

The auction did not receive any bids, with the liquidator now expected to convene another meeting with the company and its JV partner to decide the next steps.

The next steps could include conducting additional auction rounds at lower reserve prices, assessing alternatives and any other actions suitable to complete the liquidation of Xuzhou Yinjian LumChang.

The reserve price for the fifth round of auction was at a 60% discount to the fair value of the auction components.

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