Pan Hong: +3.5% at $0.445. Plans to spin-off its residential and commercial property dev businesses in Jiangxi province, and list the unit on the main board of the HKEX, given prospect of valuation. The developer has exposure mainly to Jiangxi and Zhejiang provinces…
Details still sketchy, and deal is subject to approval from the relevant authorities. Recall Li Heng Chemical, which tried to do the same last year, was eventually unsuccessful in getting the required approvals.
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