HK Stock Market Move | 3SBIO (01530) rose more than 7% in early trading. 3SBIO plans to spin off its subsidiary, Mandy International, for independent listing.

3SBIO (01530) rose more than 7% in early trading and, as of the time of writing, increased by 5.25% to HK $30.88, with a turnover of HK $4.01 billion. On the news front, according to the Hong Kong Stock Exchange disclosure on November 20th, Mandy International will be listed on the main board of HKEx. The prospectus shows that Mandy International is a leading professional consumer healthcare company in China, dedicated to developing and providing comprehensive and long-term solutions for skin health and weight management. The company mainly focuses on the hair health sector in the broader skin health industry and has established a leading position in this field. 3SBIO announced that the company plans to spin off its subsidiary Mandy International for independent listing on the Hong Kong Stock Exchange. At the same time, 3SBIO stated in the announcement that after the spin-off is completed, the company will not retain any equity in Mandy International. Mandy International will no longer be a subsidiary of 3SBIO and will operate independently.