Jiangxi Copper Wins Board Approval for Copper Foil Unit Spin-Off, Hong Kong Listing

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Jiangxi Copper's (HKG:0358, SHA:600362) board approved the proposed spin-off and Hong Kong listing of its controlled subsidiary, Jiangxi JCC Copper Foil Technology, according to an exchange filing Thursday.

JCC Copper Foil plans to issue shares on the Hong Kong Stock Exchange through a Hong Kong public offering and an international placement.

The initial offering size will not exceed 15% of its enlarged share capital before any over-allotment option.

The company said the spin-off is intended to strengthen JCC Copper Foil's financing capabilities and support the expansion of its high-performance electrolytic copper foil business.

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