Tuas Limited (ASX:TUA)
Tuas Limited (ASX:TUA) was incorporated in March 2020 as part of the TPG Telecom Limited (ASX:TPM) group of companies (TPG).
TPG intends to demerge its TPG Singapore mobile business, TPG Telecom Pte Ltd (TPG Singapore), from the broader TPG Group by first transferring all the shares in TPG Singapore to Tuas. The demerger is subject to TPG completing its merger with Vodafone Hutchison Australia Pty Ltd. That is expected to occur in mid-2020.
If that merger does complete, then TPG intends to transfer the economic interest in TPG Singapore to TPG shareholders by making an in-specie distribution of Tuas shares to TPG’s shareholders. TPG Shareholders on the register on the appropriate date will receive shares in Tuas and will become the shareholders of Tuas. Tuas will then own and operate the TPG Singapore business.