China International Marine Containers (Group) (HKG:2039, SHE:000039) terminated the proposed spin-off and listing of its controlling subsidiary, CIMC-TianDa Holdings, on the ChiNext Board of the Shenzhen Stock Exchange.
The decision, approved on March 27, follows comprehensive evaluation and coordination of business development and capital operations. The spin-off and listing were initially approved at the third extraordinary general meeting on June 18, 2021.
CIMC believes the termination will not impact its financial condition or strategic plans. The listing application documents have been withdrawn.
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