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Ten Pao Group to Spin-off Unit in China

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Ten Pao Group (HKG:1979) said its plan to spin-off and list its Ten Pao Electronics (Huizhou) unit in China was approved by a stock exchange in the mainland, according to a Thursday filing with the Hong Kong bourse.

The charger manufacturer's shares fell over 2% in morning trade Friday.

The company did not identify where it planned to list A shares of Ten Pao Electronics, which is mainly engaged in the charging device related business.

Ten Pao Group said the proposed spin-off was currently preliminary in nature.

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