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Sunny Optical Technology (Group) Co ( (HK:2382) ) just unveiled an announcement.
Sunny Optical Technology plans to spin off its vehicle-related optical business, SpinCo, a leading automotive optical technology provider specialising in vehicle camera and optical solutions, via a separate listing of SpinCo’s H shares on the Main Board of the Hong Kong Stock Exchange through a global offering, while retaining SpinCo as a consolidated subsidiary. The exchange has confirmed the spin-off can proceed and SpinCo has filed its listing application, with the transaction expected to be treated as a discloseable deemed disposal under Hong Kong listing rules that does not require shareholder approval, although key terms such as offer size and structure remain undecided and completion is still subject to regulatory approvals, board decisions and market conditions, leaving some execution risk for investors to consider.
The most recent analyst rating on (HK:2382) stock is a Buy with a HK$88.00 price target. To see the full list of analyst forecasts on Sunny Optical Technology (Group) Co stock, see the HK:2382 Stock Forecast page.
More about Sunny Optical Technology (Group) Co
Sunny Optical Technology (Group) Company Limited, listed in Hong Kong, operates in the optics and optoelectronics industry, with a significant business focus on vehicle-related optical technologies through its subsidiary SpinCo, a PRC-incorporated joint stock company described as a globally leading provider of automotive optical technology, including vehicle camera and other vehicle optical solutions.
YTD Price Performance: -2.44%
Average Trading Volume: 11,057,431
Technical Sentiment Signal: Sell
Current Market Cap: HK$69.85B
For a thorough assessment of 2382 stock, go to TipRanks’ Stock Analysis page.