THE statement by the Henderson group yesterday on the latest progress in its separate-listing plan for its China assets offers only a glimpse of the true picture.
The statement was in response to a Business Post report which said the group decided to put on hold its listing of mainland property assets in light of unfavourable market conditions.
Henderson seems deliberately vague on the true reasons for the apparent delay in the listing, which it said in May would be finalised by the end of June.
While the listing was still being considered, whether it succeeded would ''depend on a large number of factors'', the statement said.
The group's directors considered it premature to speculate when and on what terms the listing plan would materialise, it added.
It is understandable that the group would like to gain greater flexibility for the listing plan.
But something else has become clear.