Jan 10, 2024 05:48 PM

BUSINESS

Iflytek to Spin Off Loss-Making Health Care Arm

By Kelsey Cheng and Liu Peilin

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What’s new: Chinese speech-recognition and artificial intelligence developer Iflytek Co. Ltd. (002230.SZ) plans to spin off its loss-making health care arm via a Hong Kong IPO.

Xunfei Healthcare Technology Co. Ltd. will seek approval to list on the main board of Hong Kong’s stock exchange, with an offer of up to 20.1 million shares and a 15% over-allotment option, Iflytek said in a regulatory filing Tuesday.

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