China Singyes to spin off materials unit

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If everything proceeds as planned, Singyes New Materials — a producer of indium tin oxide film, polymer dispersed liquid crystal film electronically switchable glass (Smart Light-adjusting Glass), and smart light-adjusting projection systems — will remain a group subsidiary.

The group currently owns 90.1% of Singyes New Materials, according to a statement on the Hong Kong stock exchange.

The subsidiary will seek a listing on on Hong Kong’s Growth Enterprise Market (GEM) through an initial placement of shares to institutional investors, in addition to a preferential offering to qualifying shareholders, that will in aggregate amount to 25% of the enlarged issued share capital of the company.

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