HK-listed Xinyi Solar hits 4-mth high on unit spinoff plan

Xinyi Solar Holdings

02/11/2018 02:46

** Shares of Xinyi Solar Holdings Ltd  0968.HK  rise as much
as 3.6 pct to HK$2.61, the highest since June 22, after the
solar glass maker says it will seek shareholder approval for a
spinoff of its solar farm unit in Hong Kong
    ** The stock is set for a 4th straight session of gains 
    ** Company proposes a spin-off of its 75 pct-owned solar
farm operation unit Xinyi Energy Holdings Ltd on the Hong Kong
bourse, raising capital to fund the purchase of solar projects
(https://bit.ly/2Rww3XC)
    ** Company says will seek shareholders' approval at a
general meeting to be held on Nov. 21 
    ** As of the last close, the stock has fallen 16.6 pct so
far this year
    ** Xinyi Solar has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 16.8 percentage points in the
past month

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