China Water Affairs Group Suspends Spin-off of Subsidiary
China Water Affairs Group (HKG:0855) has decided to suspend its plan to spin off its subsidiary Silver Dragon Water Supply Group and to list its shares separately on the Hong Kong Exchange, a Wednesday filing with the Hong Kong Exchange said.
The water supply company canceled the move given recent capital market conditions and to align with its development strategy.
The company's shares closed nearly 4% lower on Wednesday.
Price (HKD): $4.34, Change: $-0.16, Percent Change: -3.56%
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