Karrie International Holdings Limited (SEHK:1050) agreed to spin-off KRP Development Holdings Limited on February 4, 2022. The Proposed Spin-off to be effected by way of the Distribution and introduction of the new KRP Development Shares. Post Spin-off KRP Development will apply for the listing of its shares on the Stock Exchange of Hong Kong Limited.

Transaction has been approved by The Stock Exchange of Hong Kong Limited. The Spin-off is subject to the completion of the acquisitions of both Kar Info International Property Limited and Dongguan City Jiaxuntong Computer Products Limited. Listing is conditional upon, among other things, the approval of the Listing Committee, the final decision of the Board and the board of directors of KRP Development, market conditions and other considerations.