China Singyes Solar Technologies has confirmed that it still aims to spin off China Singyes New Materials and list its shares on the secondary board of the Hong Kong stock exchange.China Singyes New Materials will pursue a listing on Hong Kong's Growth Enterprise Market via a share offering, public placement and preferential offering to qualified shareholders. It aims to issue at least 25% of the enlarged number of offer shares up for grabs following the completion of the spin-off and listing plan, according to a statement to the Hong Kong stock exchange.
Existing shareholders can qualify for the preferential offering by submitting transfer forms and related share certificates to Tricor Investor Services - a subsidiary of Bank of East Asia - by July 5. However, the group still has yet to set a date for the proposed spin-off and listing and cautioned that it may not proceed with the plan at all. The proposal still needs to be approved by its board, the board of China Singyes ...Den vollständigen Artikel lesen ...