SINGAPORE (June 22): Serial System is planning to spin off its subsidiary Serial Microelectronics (HK) (SMHK) so that it can be listed separately on the Mainboard of the Stock Exchange of Hong Kong.

As part of the spinoff, the company also intends to transfer its listing from the Mainboard of the Singapore Exchange to Catalist.

SMHK is a private company incorporated in Hong Kong, which is 91% owned by Serial System through its wholly owned subsidiary, Serial Microelectronics. The remaining 9% of the shares of SMHK is owned by Lawrence Ho Yung, President of SMHK.

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