Jewelry Giant Sees Gold in Online Unit Spinoff, IPO
A major Chinese jewelry producer is spinning off its online sales channel, which it plans to list in Hong Kong.
Internet-based jewelry retailer CSMall Group Ltd., owned by China Silver Group Ltd., is expected to trade its shares on the Hong Kong Stock Exchange starting March 13, according to a statement it filed with the bourse.
CSMall will issue more than 194 million shares, priced between HK$2.28 ($0.29) and HK$3.28 per share.
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