CHINA TRAVEL HK to Spin Off Hong Kong and Macau Cultural Tourism via Distribution in Specie, Listing by Introduction

Stock News05-20 22:44

CHINA TRAVEL HK (00308) announced plans to spin off its Hong Kong and Macau cultural tourism business via a distribution in specie of shares and to list the spun-off entity independently on the Main Board of The Stock Exchange of Hong Kong by way of introduction. The company has submitted a proposal for the proposed spin-off to the Exchange under Practice Note 15 and has received confirmation from the Exchange to proceed. On May 20, 2026, the Hong Kong and Macau cultural tourism entity submitted a listing application to the Exchange, seeking approval for the listing of its shares by introduction on the Main Board. This spin-off does not involve the issuance of new shares; it solely involves the distribution of existing shares to the company's original shareholders and does not constitute a transaction under Chapter 14 of the Listing Rules. Following the completion of the spin-off, the listed company will retain its scenic area attractions and supporting services business. The Hong Kong and Macau cultural tourism entity will take over passenger transport, hotel operations, travel document services, and related businesses, focusing on operations within the Hong Kong and Macau markets. The company stated that the spin-off will help both business segments focus on their core operations and enhance operational efficiency. It will also provide each with an independent financing platform, facilitate more precise valuation by investors, and aligns with the overall interests of the company and its shareholders.

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