to-the-point Singyes Solar to spin off new materials unit focus on EPC
Sep 16, 2016 10:19 CEST
September 16 – China-based firm Singyes Solar Technologies Holdings (HKG:0750) said Thursday it has been given the green light for the spin off of its 90.1%-owned new materials unit, which will be listed separately.
China Singyes New Materials Holdings Ltd makes Indium Tin Oxides (ITO) film, polymer dispersed liquid crystal film (smart film), electronically switchable glass (smart light-adjusting glass) and smart light-adjusting projection systems. Following the spin-off, parent Singyes Solar plans to focus its business on engineering, procurement and construction (EPC) services for photovoltaic (PV) parks.
The main reason for the move is that the subsidiary has grown to a size sufficient to command a separate listing status, says Singyes Solar’s statement (http://www.hkexnews.hk/listedco/listconews/sehk/2016/0915/LTN20160915559.pdf). It will be listed on the Growth Enterprise Market of the Stock Exchange of Hong Kong.
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