HK-listed Shenzhen International hits 8-week peak on spin-off plan

Shenzhen International Holdings

14/07/2023 07:14

** Shares of Shenzhen International Holdings  0152.HK  rise
as much as 2.4% to HK$7.16, their highest since May 18
    ** Stock set for the biggest one-day pct rise since July 11
and on course to snap two consecutive sessions of decline
    ** Company proposes a spin-off and separate listing of its
logistics assets through a publicly offered infrastructure
securities investment fund on a mainland stock exchange
    ** Says the assets comprise two logistics parks projects in
Hangzhou of Zhejiang Province and in Longli County of Guizhou
Province
    ** The Hang Seng Composite Index  .HSCI  climbs 0.2%, while
Hang Seng Commerce & Industry Index  .HSNC  and the Hang Seng
Index  .HSI  both gain 0.3%
    ** As of last close, the stock had fallen 8.8% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))