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<IPO>MIDEA GROUP: Subsidiary 'Annto' Submits Listing Application
Recommend 13 Positive 17 Negative 8 |
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MIDEA GROUP (00300.HK) proposed to spin off its non-wholly owned subsidiary, Annto, for listing, according to MIDEA GROUP's announcement. The Company was informed that Annto has submitted a listing application through its joint sponsors to the Stock Exchange today (27th), to apply for the listing of, and the permission to deal in, the H shares of Annto on the Main Board of the Stock Exchange. The initial size of the issuance of the H shares of Annto shall not exceed 20% of the enlarged total share capital of Annto immediately after the issuance (prior to the exercise of the over-allotment option), and the underwriters shall be granted an over-allotment option not exceeding 15% of the aforementioned initial issuance size of H shares of Annto, the Group said. Upon completion of the proposed spin-off and listing, Annto will remain as a controlling subsidiary of the Company. AASTOCKS Financial News Website: www.aastocks.com |
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