3SBio drops most in seven months on unit spin-off plans

Shares of biopharmaceutical product producer 3SBio Inc 1530.HK drop 8.9% to HK$29.52, their biggest intraday pct decline since April 28

Stock touches the lowest point since November 12, and set to snap two consecutive sessions of gains, if losses hold

3SBio proposes to spin off and separately list the shares of its 87.16%-owned skin health and weight management solution unit Mandi Inc on the main board of the Hong Kong stock exchange

The Stock Exchange has confirmed that the company may proceed with the proposed spin-off plans, and will not retain any interest in the specialized consumer pharmaceuticals unit Mandi on completion of the listing

YTD, stock up 400%, Hang Seng Biotech Index .HSBIO up 77%