Wai Kee plans spin-off

Wai Kee Holdings has made an advance application to the stock exchange to list and deal in the shares of its road projects subsidiary Road King (China) Infrastructure.

Wai Kee owns 60 per cent of Road King, which it said would be the vehicle for all of Wai Kee's existing highway projects, plus 'a few' new projects which may be signed 'in the near future'.

AIG Asian Infrastructure Fund controls the remaining 40 per cent. Directors said no final decision had been made on the timing, market capitalisation, structure and pricing of the spin-off.