Society Pass Inc. Announces Plans To Spinout Two Profitable Business Units Into New Publicly-Traded Companies Via Nasdaq IPOs In 2024
Portfolio Pulse from Benzinga Newsdesk
Society Pass Inc. (NASDAQ:SOPA) plans to spin out its digital advertising ecosystem, Thoughtful Media Group Inc, and its online travel platform, NusaTrip Inc, into new publicly-traded companies via Nasdaq IPOs in 2024. The company believes this will unlock shareholder value as investors can more clearly evaluate the performance and future potential of these profitable businesses. The CEO of SoPa, Raynauld Liang, noted that this action follows the leads of Johnson & Johnson and Kellogg's spinning out operating subsidiaries.
October 10, 2023 | 12:31 pm
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POSITIVE IMPACT
Society Pass Inc. plans to spin out two of its profitable business units into new publicly-traded companies. This could potentially unlock shareholder value and allow clearer evaluation of the performance and future potential of these businesses.
The spinout of profitable business units into new publicly-traded companies could potentially unlock shareholder value and allow clearer evaluation of the performance and future potential of these businesses. This could positively impact the stock price of Society Pass Inc. in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Johnson & Johnson was mentioned as a precedent for Society Pass Inc.'s planned spinouts.
Johnson & Johnson was mentioned as a precedent for Society Pass Inc.'s planned spinouts. However, this news does not directly impact Johnson & Johnson's stock price.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Kellogg's was mentioned as a precedent for Society Pass Inc.'s planned spinouts.
Kellogg's was mentioned as a precedent for Society Pass Inc.'s planned spinouts. However, this news does not directly impact Kellogg's stock price.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20