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Ten Pao Group Holdings Limited ( (HK:1979) ) has provided an update.
Ten Pao Group Holdings Limited has announced plans for a proposed spin-off and separate A-share listing of its indirect subsidiary, Ten Pao Electronics (Huizhou) Co., Ltd., on a stock exchange in mainland China. The Huizhou-based unit, which manufactures and sells chargers, adaptors, new energy power conversion systems and power function accessories, is expected to remain a subsidiary with its financial results consolidated into the group after the transaction.
The company has received confirmation from the Hong Kong Stock Exchange that it may proceed under the relevant spin-off rules, but key terms of the deal and listing details are still being finalized. Execution of the spin-off and A-share listing is contingent on board and shareholder approvals, regulatory clearances in China, market conditions and other factors, leaving timing and completion uncertain and prompting a cautionary note to shareholders and potential investors.
More about Ten Pao Group Holdings Limited
Ten Pao Group Holdings Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates through subsidiaries in the power electronics sector. Its indirect non-wholly owned unit, Ten Pao Electronics (Huizhou) Co., Ltd., focuses on charging device-related business, producing and selling chargers, adaptors, new energy power conversion systems and power function accessories for a broad customer base.
Average Trading Volume: 762,850
Technical Sentiment Signal: Buy
Current Market Cap: HK$2.45B
For detailed information about 1979 stock, go to TipRanks’ Stock Analysis page.