LEOCH INT'L (00842) surged more than 15% in afternoon trading. At the time of writing, the stock was up 14.22%, trading at HKD 2.49, with a turnover of HKD 31.75 million.
The surge follows the company's announcement that its shareholders' meeting has voted to approve the proposal for a spin-off and listing in the United States.
It is reported that on December 30, 2025, Leoch Energy Inc. publicly filed a Form 20-F registration statement with the U.S. Securities and Exchange Commission regarding the proposed spin-off.
A previous announcement indicated that the last day for trading shares on a cum-entitlement basis was January 8, 2026, with January 9 marking the first day for trading on an ex-entitlement basis.
The announcement further clarifies that the company currently directly holds 100% of the issued shares of the subsidiary to be spun off.
It is expected that upon completion of the listing, the company will no longer hold any shares in the spun-off entity, which will be completely separated from the company and cease to be consolidated.
Consequently, the Group will deconsolidate the assets and liabilities of the spun-off subsidiary group from its consolidated financial statements.
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