Sino Agro Food, Inc. (OTCPK:SIAF) intends to spin off a majority stake in Tri-way Industries Limited on November 11, 2015. Sino Agro intends to distribute a majority of its holdings in Tri-way Industries to its shareholders as a result of the spin off. Tri-way Industries Limited comprising of the aquaculture operations will be listed in Norway on Oslo stock exchange. Prior to the spin off, Tri-way Industries will conduct an initial public offering for its shares. The spin off is immediately accretive to Sino Agro's earnings per share and EBITDA. Sino Agro Food, Inc. (OTCPK:SIAF) completed the spin off of a majority stake in Tri-way Industries Limited on March 1, 2017.