TCL Corporation announced on August 18 that it has got approval from China Securities Regulatory Commission of having a spin-off of its Hong Kong listed assets TCL International Holding go public in Hong Kong.

The new company, TCL Communication Technology, is incorporated in Cayman Islands. The floating is subject to the decision of shareholders' conference of TCL International and HKex.

As the spin-off is proposed not long after TCL Corporation was listed, the market casts doubtful eyes on TCL. Shares of the corporation nose-dived.

This latest declaration shows that the spin-off and IPO of the spin-off will go on amid the doubts overshadowing it.

By People's Daily Online