HK's power grids meter maker Wasion rises on spinoff progress

Wasion Holdings

28/05/2019 03:34

** Shares of power grids meter products developer and maker
Wasion Holdings Ltd  3393.HK  rise as much as 6.3% to HK$3.57,
after three straight sessions of decline
    ** Co says it has received approval from the Hong Kong stock
exchange regarding its proposed separate listing of Willfar
Information Technology on the science and technology innovation
board in Shanghai  urn:newsml:reuters.com:*:nFWN232026
    ** Co says the proposed spin-off will allow the company and
its shareholders an opportunity to realise the value of
investment in Willfar 
    ** As of Monday's close, the stock had fallen 11.8% so far
this year
    ** Wasion has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 4.3 percentage points in the
past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
climbs 0.5% on Tuesday, and the benchmark index  .HSI  gains
0.4%

 ((Reuters Messaging:
donny.kwok.thomsonreuters.com@reuters.net))