Goertek Resumes Spinoff Plans for Unit, Eyes Hong Kong Listing

MT Newswires Live09-19

Goertek (SHE:002241) plans to spin off its subsidiary Goertek Microelectronics and list it on the Hong Kong stock exchange.

Following the spinoff, Goertek Microelectronics will still be a subsidiary of Goertek.

Goertek said the spinoff will help the company initiate capital market resources through independent listing, active investments in microelectromechanical systems and microsystem modules, and to leverage on artificial intelligence, among other benefits.

The development comes after the Chinese acoustic component manufacturer scrapped plans for a spinoff and subsequent listing in Shenzhen in May due to current market conditions and considering Goertek Capital's operational planning.

Price (RMB): Â¥18.16, Change: Â¥+0.12, Percent Change: +0.67%

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