Phoenix (02008.HK) 1 18 on the evening bulletin announced that the company intends to spin-off new media business to the U.S. market, continue to hold Phoenix New Media Ltd. 50% interest in Phoenix's new media financial results will continue to be consolidated in the company's accounts.
Phoenix had announced plans to spin-off new media business to the Nasdaq Global Market or listed on the New York Stock Exchange independence, and new media business is currently the Phoenix New Media and its subsidiaries operate.
As for the spin-off provisions, including the offering size, price range have not been implemented, Phoenix will be announced in due course.
Phoenix since 9:33 this morning suspended, the company has applied for tomorrow, January 19 resumption of share transactions. Shares before the suspension to close at 2.96 Hong Kong dollars.
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