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Nasdaq listing move for Star East IT unit

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Star East Holding plans to list its 27 per cent-owned entertainment Web site operator Star East Information Technology (SEIT) in April on the United States Nasdaq market, according to vice-chairman Natalis Chan Pak-cheung.

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'We plan to submit our listing application in March,' Mr Chan said, with the listing to take place the following month.

Mr Chan declined to disclose the size of the flotation, but he said it would be 'comparable to that of Chinadotcom'.

In July, Chinadotcom raised nearly US$100 million from its Nasdaq flotation.

Star East's stake in SEIT would not be diluted by the listing, Mr Chan said.

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Star East is an entertainment-complex franchiser and money-lender.

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