WILLEMSTAD, Curacao, June 11, 2013 /PRNewswire/ -- Retail Holdings N.V. (Symbol: RHDGF) -- Retail Holdings N.V. ("ReHo" or the "Company"), announced today that, together with UCL Asia Partners L.P., ReHo's partner in Singer Asia Limited ("Singer Asia"), it is considering an initial public offering ("IPO") on the Main Board of the Singapore Exchange Securities Trading Limited (the "SGX-ST") of Sewko Holdings Limited ("Sewko"), a newly formed company to hold Singer Asia and its subsidiaries and associate companies. The Company would expect to sell a portion of its equity interest in Singer Asia through the IPO. Sewko would hold eight listed companies: Singer Bangladesh Limited., Singer India Limited., Singer Pakistan Limited., Singer (Sri Lanka) PLC, Singer Finance (Lanka) PLC, Regnis (Lanka) PLC, Singer Industries (Ceylon) PLC, and Singer Thailand Public Co. Limited.
Commenting on the potential IPO of Singer Asia through Sewko, Stephen H. Goodman, the Company's Chairman, President and CEO, noted, "The SGX-ST is a favorable venue for a potential listing given the exchange's international status and geographic focus. I believe that a listing both would provide funds for growth at Singer Asia while advancing ReHo's strategy of maximizing and monetizing the value of its assets. It is important to note, however, that there are considerable risks and uncertainties to a possible IPO and that an IPO on the SGX-ST, or any other stock exchange, may not take place for some time, or ever, and that the values realized if an IPO does take place, may be less than anticipated."
About Retail Holdings N.V.
The Company holds three principal assets: 1) a 55.9% equity interest in Singer Asia, a distributor of consumer durable products in Bangladesh, India, Pakistan, Sri Lanka and Thailand with consumer credit and other financial services available to qualified customers; 2) the SVP Notes, arising from the sale of the Singer worldwide sewing business and trademark in 2004; and 3) cash and cash equivalents. The Company has no operating activities other than those carried out through Singer Asia.
ReHo is a Curacao public company, which is the successor company to the Singer Company N.V. and its predecessor companies. Price quotations for the Retail Holdings Shares are available on the OTC Pink "Pink Sheets" quotation service under the symbol "RHDGF".
Additional financial and other information about the Company including: ReHo's audited, consolidated financial statements for the twelve months ended December 31, 2012, and all prior statements since September 2000, together with Auditor's Reports thereon; the 2012 Annual Report dated March 2012, and all prior Disclosure Statements and Reports since September 2000; and copies of all semi-annual and quarterly reports and press releases since September 2000; may be found at the Corporate/Investor section of the ReHo's website: www.retailholdings.com.
For further information, please contact Amy Pappas at (914) 241-3404.
This press release does not constitute or form any part of any offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities in the United States. Specifically, this document does not constitute a "prospectus" within the meaning of the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"). Any securities related to this press release may not be offered or sold in the United States unless they are registered or exempt from registration. Any public offering of securities to be made in the United States would be by means of a prospectus that could be obtained from Sewko or any selling shareholder and that would contain detailed information about Sewko and management, as well as financial statements. Sewko does not intend to make any public offering of any securities in the United States.
SOURCE Retail Holdings N.V.