HK Stock Movement | 3SBIO (01530) Rises Over 7% in Early Trading as It Plans to Spin Off Subsidiary Mindy International for Separate Listing

Stock News11-24

3SBIO (01530) surged more than 7% in early trading, with gains narrowing to 5.25% by the time of writing, reaching HK$30.88 and recording a turnover of HK$401 million. The rally follows news that Mindy International submitted its listing application to the Hong Kong Stock Exchange's main board on November 20. According to the prospectus, Mindy International is a leading consumer healthcare company in China, specializing in comprehensive and long-term skin health and weight management solutions. The company primarily focuses on the hair health segment within the broader skin health industry, where it has established a leadership position. 3SBIO announced its intention to spin off Mindy International for an independent listing on the Hong Kong Stock Exchange. The company clarified that it will not retain any stake in Mindy International post-spinoff, and the subsidiary will cease to be an affiliate, operating independently thereafter.

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