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.
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