The hottest Shangshi holdings applied for the spin

2022-09-28
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Reuters Hong Kong on August 29 revealed that Shanghai Industrial Holdings Co., Ltd. (:) announced on Wednesday that it had submitted a scheduling application form to the Hong Kong stock exchange to apply for the spin off of its subsidiary Yongfa printing on the Hong Kong main board

the company announced that if the board of directors of Shanghai real estate and Yongfa decides to carry out the spin off proposal and the global offering, and it is approved by the Listing Committee of the stock exchange, it plans to provide qualified shareholders with the guaranteed quota for subscribing Yongfa shares in the global offering in the form of preferential application after Yongfa printing and Shanghai real estate negotiate and listen to the opinions of independent listing sponsors, and the company will convene an extraordinary general meeting of shareholders to submit relevant suggestions

Shangshi said that the spin off of Yongfa printing could enable the company to focus on and further develop its remaining business, and at the same time attract investors interested in investing in the printing and paper industry

according to the announcement, Yongfa printing was established in 1920 and is a major subsidiary of Shangshi. Its business is to strengthen the industrial policy of new materials, and the development plan. The upper and lower ends are restrained by friction. The deformation plan is coordinated with the policies of science and technology, finance and taxation, finance, commerce and trade, which are mainly concentrated in Hong Kong and China. The packaging printing of cigarettes, alcohol and other consumer goods can generally be brushed more than 100000 times, and the box board paper is produced in Hebei Province, China, as well as the paper trade, Including the sale of printing paper and waste paper. Shanghai real estate indirectly owns about 93.44% of the issued share capital of Yongfa

the company said that the spin off proposal may constitute a significant dilution of the company's interests in Yongfa printing, and the spin off proposal may or may not be carried out

in July, a Hong Kong newspaper reported that Shanghai plans to spin off its Yongfa printing business and list it in the third quarter of this year, raising more than US $200million to expand its business

Shanghai real estate holdings fell 2.29% to HK $32 on Wednesday, and its share price fell 0.61% in the past month

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