SINGAPORE (June 22): Electronic parts distributor Serial System is set to spin off its Hong Kong subsidiary, Serial Microelectronics (HK), in a listing on the Stock Exchange of Hong Kong. 

The listing, which was approved at an extraordinary general meeting on April 6, will cut Serial System’s stake from 91% to 68.25%. 

Serial System estimates that the subsidiary, which distributes electronic parts within Greater China, will have a minimum market value of US$220 million ($299 million) upon listing.

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