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© Reuters.By Gina Lee
Investing.com – Shenzhen-based Chinese conglomerate BYD is considering a spinoff of its semiconductor subsidiary.
BYD Semiconductor, which produces and sells electronic parts, will seek to list separately “in due course”. BYD’s vice president has resigned and will be BYD Semiconductor’s new chairman and general manager.
BYD also manufactures automobiles under its BYD Automobile subsidiary.
BYD is listed in both Shenzhen and Hong Kong. The company’s Shenzhen stocks (SZ:) jumped 5.39% by 12:20 AM ET (5:20 AM GMT). BYD’s Hong Kong stocks (HK:) were up 3.23% to HK$43.20 at the end of the morning session.
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