Lee & Man Mulls to spin off handbag business

Lee & Man Holdings (0554), a retailer of handbags and audiocassette products, said it plans to spin off its handbag business for a separate listing on the main board to streamline and rationalize its corporate structure and business activities. The company said it already made a submission to the Stock Exchange on a separate listing of L & M Handbag, its wholly owned handbag unit. It emphasizes, though, the spin-off is at a preliminary stage and there is no assurance that the company will proceed with the spin-off.

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