Changes in Hong Kong stocks | Sihuan Pharmaceutical (00460) rose more than 4% in the morning to split Xuanzhu Biotech and independently list on the Hong Kong Main Board

The Zhitong Finance App learned that Sihuan Pharmaceutical (00460) rose by more than 4% in the morning. As of press release, it had risen 4.48% to HK$0.7, with a turnover of HK$12.5171,000.

According to the news, Sihuan Pharmaceutical issued an announcement. The company proposed to split Xuanzhu Biotech and independently list its H shares on the main board of the Stock Exchange. The independent listing of the spin-off company's H shares on the main board of the Stock Exchange forms the company's spin-off and spin-off company in accordance with Section 15 of the application guidelines. The Exchange has confirmed that the company can proceed with a proposed spin-off.

The spin-off company plans to sell its H shares through a global offering. Details of the global sale have not yet been finalized. As of the date of this announcement, the company indirectly owned 56.47% of the shares in the spin-off company. According to the plan, after the proposed spin-off and listing is completed, the spin-off company will remain a subsidiary of the company.

On November 25, 2024, the spin-off company submitted a listing application form (Form A1) to the Stock Exchange to request the listing and trading of the spin-off company's H shares on the main board of the Stock Exchange.