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Leoch International Technology Limited ( (HK:0842) ) has issued an announcement.
Leoch International Technology Limited has provided an update on its proposed spin-off of Leoch Energy Inc. and related distribution of Leoch Energy shares to existing shareholders. Under the assured entitlement arrangement, qualifying shareholders will receive one Leoch Energy share for every 50 Leoch International shares they hold, with entitlements calculated in whole multiples of this lot size. Fractional entitlements and holdings below the qualifying lot will not result in direct share allocations; instead, the corresponding Leoch Energy shares will be aggregated and sold on a U.S. stock exchange by Computershare, with net cash proceeds distributed to the relevant shareholders via the applicable clearing systems. The structure aims to comply with Hong Kong listing requirements while giving shareholders direct participation or cash compensation in the spin-off, thereby potentially improving transparency and value recognition for both the parent and the spun-off energy business.
The most recent analyst rating on (HK:0842) stock is a Hold with a HK$0.90 price target. To see the full list of analyst forecasts on Leoch International Technology Limited stock, see the HK:0842 Stock Forecast page.
More about Leoch International Technology Limited
Leoch International Technology Limited is a Cayman Islands-incorporated company listed in Hong Kong, primarily engaged in the manufacture and sale of lead-acid and other battery technologies for various industrial and consumer applications. The group is expanding its energy-related operations and has structured its business to include Leoch Energy Inc. as a separately listed entity to enhance strategic focus and unlock value in its energy segment.
Average Trading Volume: 3,156,306
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$1.22B
See more insights into 0842 stock on TipRanks’ Stock Analysis page.