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<IPO>BIDU-SW: Kunlunxin Has Confidentially Submitted Listing Application to HKEX
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BIDU-SW (09888.HK) announced that Kunlunxin, through its joint sponsors, on a confidential basis, submitted yesterday (1st) a listing application form (Form A1) to the Hong Kong Stock Exchange to apply for the listing of, and permission to deal in, the Kunlunxin Shares on the Main Board of the Hong Kong Stock Exchange. It is currently proposed that the Proposed Spin-off will be effected by way of the Global Offering of Kunlunxin Shares, comprising a Hong Kong public offering of Kunlunxin Shares for subscription by the public in Hong Kong; and a placing of Kunlunxin Shares to institutional and professional investors. So far, Kunlunxin is a non-wholly owned subsidiary of the Company. Following completion of the Proposed Spin-off, it is expected that Kunlunxin will remain as a subsidiary of the Company. The Company advised that shareholders and potential investors of the Company should be aware that there is no assurance that the Proposed Spin-off will take place or as to when it may take place. Shareholders and potential investors of the Company should therefore exercise caution when dealing in or investing in the securities of the Company. AASTOCKS Financial News Website: www.aastocks.com |
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