[ET Net News Agency, 17 October 2014] SiS International (00529) said it proposes to
spin off and separately list the distribution business of mobile phone products in Hong
Kong on the Main Board of The Stock Exchange of Hong Kong by way of a distribution in
specie and a share offer.
It is intended that upon completion of the proposed spin-off and the listing, SiS
International will have an interest of not less than 50% in SiS Mobile and therefore SiS
Mobile will remain as a subsidiary of Sis International.
If the proposed spin-off is effected, the net proceeds from the issue of new shares of
SiS Mobile pursuant to the share offer will be used by the spin-off group mainly for,
amongst others, upgrading its information system; future acquisitions of property for its
office and warehouse and general working capital. (HL)
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IPO News
17/10/2014 09:40
SiS Int'l plans to spin off mobile phone distribution unit