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GF Securities yet to study spinoff of Hong Kong biz

GF Securities Co. Ltd. said that it currently has not studied matters in relation to a spinoff of its Hong Kong business for listing.

The Chinese brokerage was responding media reports that alleged the company plans to spin off its Hong Kong business for listing in 2018 to raise US$300 million.

The company added that it will not make any plans regarding a spinoff of the Hong Kong business for at least three months from Oct. 12.