The current strong demand for defensive real estate paper has sparked something of a rush among Hong Kong developers seeking to monetise part of their portfolios through a separate listing.
The latest company to join this spin-off trend is New World Development, which said in an announcement last Friday that it is “considering the possibility of a separate listing of certain of the group’s hospitality assets” on the Hong Kong stock exchange.
It added that it hasn’t yet decided which assets will be included in the new entity, what structure to use, and indeed whether or when to proceed with the proposed spin-off. However, the fact that...
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