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Shenzhen Megmeet Electrical Plans Hong Kong Listing; Shares Fall 6%

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Shenzhen Megmeet Electrical (SHE:002851) plans to issue H shares and list on the Hong Kong Stock Exchange's Main Board.

The move aims to deepen global expansion, build an international platform and boost competitiveness, according to a Wednesday filing with the Shenzhen bourse.

The listing is subject to shareholder approval, compliance with applicable Chinese and Hong Kong laws, and approvals from the China Securities Regulatory Commission, Hong Kong Securities and Futures Commission and Hong Kong bourse.

Shares of the industrial automation equipment manufacturer fell over 6% in recent trade.

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