Hong Kong’s Hopewell plans US$696m spin-off

PUBLISHED : Thursday, 30 May, 2013, 8:19am
UPDATED : Thursday, 30 May, 2013, 8:19am

Property developer and infrastructure group Hopewell Holdings Ltd said on Thursday it plans to seek a separate listing of its properties unit in Hong Kong, raising net proceeds of about HK$5.4 billion (US$696 million).

In a filing to the Hong Kong bourse, the company said it planned to offer shares of Hopewell Hong Kong Properties at an indicative price of between HK$15.3 and HK$17.8 each.