EGANA Holdings is hoping to spin-off its restructured jewellery holdings before the end of the year. The watch and jewellery maker earlier this year said it would spin off the new company under the name Egana Jewellery and Pearls. Executive director Peter Lee Ka-yue said: 'We are targeting a listing by the end of the year, but the pricing still has to be decided by the underwriters.' The jewellery company, whose operations contributed 31 per cent of Egana's turnover in the first half of this year, includes Egana's interest in Keimothai, the Thai-incorporated company the group bought in January. The spin-off will leave Egana with its watch-making and distribution operations, which includes trademarks such as Esprit, Bulova and Pierre Cardin, a stake of about 20 per cent in locally listed watch-maker Peace Mark Holdings, and a 25 per cent interest in an audio products distributor, whose name the group has yet to disclose. Egana was already looking to float the company, 'a well-established electronics group', on the local stock exchange, the group said in its recently released annual report. Sources said they expected the company to go public in October. But Egana's moves to list its jewellery division or the electronics group it bought in April are just two of the fund-raising projects it has been working on this year. The group is at present selling US$68 million in convertible bonds. Nikko Research Centre analyst Shirley Chan said: 'They are on route to acquiring more brand names as well as to expanding sales in the US and Europe.' The company also expects to clinch a New York Nasdaq listing. 'We are in the process of getting approval,' Mr Lee said. 'We decided to list on Nasdaq, because our [US Depository Receipts] in the over-the-counter market were traded successfully, and institutional investors were asking for a listing.' The company has moved into consulting, to become the first joint venture business consultation company involving a national institution on the mainland and a non-mainland international enterprise. In August, Egana said it had formed a tie-up with the China Foreign Businessmen Club - a unit of the China Association of Enterprises with Foreign Investment (CAEFI). Egana has a 49 per cent stake in the 10 million yuan (about HK$9.29 million) venture, The China Association of Enterprises with Foreign Investment Consultancy Co. CAEFI holds the rest. 'It's a joint venture with the PRC's national business unit, which governs foreign investment,' Mr Lee said. 'Basically, we will be acting as advisers to any foreign company that wants to invest in China.'