Gold Fields shares jump, firm to spin off South African unit

JOHANNESBURG Thu Nov 29, 2012 2:11am EST

JOHANNESBURG (Reuters) - Shares in South Africa's Gold Fields (GFIJ.J) jumped more than 7 percent on Thursday after the company said it would spin off its local unit and list it on the Johannesburg Stock Exchange.

The shares were 7.73 percent higher at 110.67 rand at 2.07 a.m. EST.

(Reporting by Olivia Kumwenda; Editing by Ed Cropley)