Henderson in IPO proposal at iCare.com

Henderson Investment may float a planned Internet joint-venture operation - iCare.

com - on the stock exchange this year, according to chairman Colin Lam Ko-yin.

The site, scheduled to be launched in the third quarter this year, is a 50-50 venture with associated company Hong Kong and China Gas (Towngas).

The portal is to provide a wide range of Internet services, including shopping, radio, infotainment and payment facilities.

The companies last year set aside $300 million to establish the joint venture.

The ultimate parent of Henderson Investment and Towngas is Henderson Land Development.

Mr Lam said Henderson Investment also planned to open three Internet-data centres at an investment cost of $300 million this year.