Shareholders of IPC Corporation Limited questioned whether the rationale for the proposed disposal remained valid given SGX’s removal of the watchlist listing requirement, and asked if the company would still recommend proceeding. They also queried why the preferred shares were being sold at a discount reflecting lack of control, marketability and projected growth assumptions, challenged the revenue growth outlook cited despite Japan’s tourism recovery, and asked why IPC did not participate in a fund raising that left it as a minority shareholder. The chairman said the divestment rationale—raising working capital and pursuing viable, sustainable investment opportunities—remains valid and is independent of SGX’s watchlist changes. He added that a past special dividend distribution in FY2015 left the company without capital for further investment, contributing to its non-participation in Nest Hotel Japan Corporation’s recapitalisation during COVID-19. On valuation, he said an independent valuer assessed the preferred shares with risk factors considered, and the company secured a 60% premium above valuation. Asked about distributing disposal proceeds, he said cash would be conserved for working capital and investments rather than dividends. The full document can be accessed through the link below.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. IPC Corporation Limited published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: 56GUG2XKH478INOH) on February 20, 2026, and is solely responsible for the information contained therein.