-- Shanghai M&G Stationery's (SHA:603899) subsidiary, Kelipu Technology Group, submitted an application to offer and list shares on the Hong Kong Stock Exchange, according to a Shanghai bourse filing on Thursday.
The stationery manufacturer proposed for the spin off of Kelipu in 2025.
The company's shares slipped 1% during the afternoon trade.
Crude oil prices rose on Thursday, hitting a four-year high, amid concerns that hostilities in the Middle East may start up again and prolong the supply disruptions in the region.Brent crude at last look jumped 2.9% to US$121.48/barrel and West Texas Intermediate crude climbed 1.5% to $108.51/barrel. This comes after Axios, citing unidentified sources, reported that U.S. President Donald Trump is set to receive a briefing on plans for a series of military strikes on Iran to push for a return to negotiations on its nuclear program, Reuters said in a Thursday report.Additionally, Trump spoke with oil companies about how to mitigate the impact of a possible months-long U.S. blockade, Reuters reported, citing a White House official.Continued price hikes risk a renewed spike in global inflation and higher fuel prices, the report said. "For those who do not think Brent prices have the potential to reach $150 a barrel, you ought to look away now," Reuters quoted John Evans of oil broker PVM as saying."Prospects for any near-term resolution to the Iran conflict or a reopening of the Strait of Hormuz remain dim," IG market analyst Tony Sycamore was quoted as saying in a note.