On Ten Pao (1979 HK)'s Proposed A-Share Spin-Off
On the 14th May 2026, Ten Pao (1979 HK), a power-supply and charging device manufacturer, announced the spin-off of its 92.4091%-held charging device arm via an A-share listing.
Shares gained 21% on the news - which were promptly given back, and then some, with shares now down 17% from undisturbed.
A circular is now out. A shareholder vote on the carve out has been waived. The transaction requires CSRC approval.
The Trade:
If illiquid events are your thing, keep tabs on this stock.
The spin-off may be worth upward of HK$7.6bn - or ~160% of Ten Pao’s market cap, from a post money calc.
The event is long-dated, and by no means definitive - be it CSRC issues, or not ideal market conditions.
This insight is labelled bullish, as I’m not bearish here.
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