** Shares of Pure Hydrogen Corp PH2.AX rise 4.6% to A$0.115, set for their best session since Nov. 5 - if current gains hold
** Clean energy firm to spin off its Australian gas assets into a new gas exploration and development co
** Divested co Eastern Gas to be listed on ASX via IPO
** Eastern Gas expected to raise A$8 mln to A$10 mln ($5.16 mln-$6.45 mln) at IPO
** Pure Hydrogen Corp says shareholders entitled to receive 1 new share in Eastern Gas for every 5 P2H shares
** Stock down 11.5% YTD, including current session's moves
($1 = 1.5504 Australian dollars)
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))
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