BUZZ-3SBio drops most in seven months on unit spin-off plans
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3SBio Inc's shares dropped 8.9% to HK$29.52, marking the largest decline since April, due to plans to spin off its 87.16%-owned unit, Mandi Inc, for a separate listing on the Hong Kong stock exchange. The Stock Exchange confirmed the spin-off, with 3SBio not retaining any interest in Mandi post-listing. Despite the drop, 3SBio's stock is up 400% YTD, while the Hang Seng Biotech Index rose 77%.
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