China Rich delays spinning off plan for another one year

Yip Kwong Robert, chairman and CEO of China Rich Holdings (1191), said as the Exchange demanded that the companies could make spinning off only after reorganizing for a year, thus the plan of spinning off the subsidiaries of China Rich Holdings to get listed should be delayed for another one year and the company was still seeking for the backdoor listing target at the present. If the backdoor listing could be made successfully, the company might be listed on the main board, or it might be listed on GEM, said Mr Yip, adding since the reorganization had been finished, delaying spinning off might turn out to be good, for the company had come into business and was not responsible for any liabilities.

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