Shenzhen Investment says to spin off JHD display maker

HONG KONG : Hong Kong-listed Chinese property developer Shenzhen Investment Limited said on Sunday it planned to spin off its JHD Group unit which has submitted an application to list on the Shenzhen share market.

JHD, a display solutions provider which develops and manufactures liquid crystal displays and modules, plans to list on the ChiNext of the Shenzhen Stock Exchange via an initial public offering (IPO) of new A shares, Shenzhen Investment said in a filing.

“The proposed Spin-Off is essential for accelerating the development of JHD as well as for achieving rapid and continuous improvement of its revenue and profitability,” it added.

Its holding in the unit will drop to 52.5 per cent after the spin-off from 70 per cent.



Source: Reuters