The Chinese mobile phone and electronics manufacturer TCL Corp has been given the green light to list its Hong Kong-based handset division Huizhou TCL Mobile. Shareholders of Hong Kong-listed TCL International, which currently owns 40.8% of Huizhou TCL Mobile via a holding company, TCL Communication, will be offered a dividend of HKD0.5934 per share. This will be paid in kind, with each holder of 100 TCL International shares receiving 42 shares in TCL Communication.
The parent company, Shenzhen-listed TCL Corp, currently owns 36% of Huizhou TCL Mobile and around 55% of TCL International. Following the listing its stake in Huizhou TCL Mobile will increase to 58.44%.