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China Hanking mulls gold asset spinoff on ASX

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China Hanking mulls gold asset spinoff on ASX

China HankingHoldings Ltd. said March 30 that it is considering the possibilityof spinning off some of its gold mining businesses in a separate company to belisted on the ASX.

However, the company has not finalized which assets would beincluded in the spun-off entity, as well as other details and the transactionschedule.

In February, the company forecast that the full-year loss for 2015 will increase "substantially,"compared to the year-earlier figure due to a 34% year-over-year decrease in theaverage selling price of iron ore concentrates in 2015, and the impairmentprovision made for some assets.