Simcere Pharmaceutical Group (HKG:2096) plans to spin off and list its Chinese subsidiary Simcere Zaiming in Hong Kong, according to a Hong Kong bourse filing Friday.
Shares of the drugmaker fell over 7% in late morning trade Monday.
The firm said Simcere Zaiming had filed to list its H shares in Hong Kong and details of a global offering were yet to be finalized.
The firm currently owns 83.10% of the business and said the move would lower its interest to over 50%.
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