Brief: Sunking Power Electronics Group Proposes Spin-Off & Separate Listing Of Jiujiang Sunking

Sun.King Technology

10/05/2018 13:57

May 10 (Reuters) - SunKing Power Electronics Group Ltd
 0580.HK :
    * PROPOSES SPIN-OFF AND SEPARATE LISTING OF JIUJIANG SUNKING
ON
SZSE
    * EXPECTED PROPOSED SPIN-OFF TO INVOLVE OFFER FOR
SUBSCRIPTION BY
WAY OF IPO OF NEW SHARES OF JIUJIANG SUNKING ON SZSE
    * STOCK EXCHANGE HAS CONFIRMED THAT COMPANY MAY PROCEED WITH
PROPOSED SPIN-OFF
    * UPON COMPLETION OF PROPOSED A SHARE LISTING, EQUITY
INTEREST OF
CO IN JIUJIANG SUNKING IS EXPECTED TO DECREASE TO 46.69%
    * SUNKING POWER ELECTRONICS GROUP - CO CURRENTLY HOLDS
62.25% OF
EQUITY INTEREST OF JIUJIANG SUNKING

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS1l9Gf7
Further company coverage:  0580.HK 

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