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BOE Technology Controlling Unit to Withdraw Beijing Listing Application; Shares Fall 8%

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BOE Technology (SHE:000725) controlling subsidiary Energy Technology plans to terminate its application for a public issuance of shares and listing on the Beijing Stock Exchange

Energy Technology cited adjustments to its development strategy and actual operational needs for the move, according to a Wednesday filing with the Shenzhen bourse.

The withdrawal is subject to the approval of the subsidiary's shareholders.

Shares of the electronics components producer were down nearly 8% in recent trade.

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