Brief: China Water Affairs Proposes Spin-Off & Listing Of Direct Drinking Water And Water Supply Business

China Water Affairs

17/12/2021 14:35

Dec 17 (Reuters) - China Water Affairs Group Ltd  0855.HK :
    * PROPOSED SPIN-OFF LISTING OF DIRECT DRINKING WATER AND
WATER
SUPPLY BUSINESS
    * PROPOSES TO SPIN OFF ITS CITY DIRECT DRINKING WATER AND
WATER
SUPPLY OPERATION AND CONSTRUCTION BUSINESS
    * FOR PROPOSED SPIN-OFF, COMPANY WILL UNDERGO REORGANISATION
    * STOCK EXCHANGE HAS CONFIRMED THAT CO MAY PROCEED WITH
PROPOSED
SPIN-OFF
    * UPON COMPLETION PROPOSED SPIN-OFF, SPINCO TO REMAIN UNIT
OF CO
AND IS EXPECTED TO BE OWNED AS TO ABOUT 82% BY CO
    * CONSIDERS THAT PROPOSED SPIN-OFF WILL BE IN INTERESTS OF
CO AND
ITS SHAREHOLDERS
    * CO'S MANAGEMENT IS REVIEWING MARKET CONDITIONS & PROPOSAL
FOR
SPIN-OFF, INCLUDING TIMING OF SUBMITTING LISTING APPLICATION
    * THERE IS NO ASSURANCE THAT PROPOSED SPIN-OFF WILL TAKE
PLACE OR
AS TO WHEN IT MAY TAKE PLACE

Source text for Eikon:  ID:nHKS6WDjvY 
Further company coverage:  0855.HK 

 ((Reuters.Briefs@thomsonreuters.com;))