Asia
Jintian Copper Plans Ketian Magnetic Spinoff; Shares Up 9%
Ningbo Jintian Copper (SHA:601609) plans to spin off and separately list its controlling subsidiary, Ketian Magnetic, according to a Wednesday filing with the Shanghai bourse.Ketian Magnetic produces magnetic materials used in new-energy vehicles, wind power, robotics and medical devices.Jintian Copper holds 91.14% of the subsidiary and plans to retain control following the proposed spinoff.Shares of the copper alloy producer rose nearly 9% in recent trade.
SHA:601609
