Department store operator Lifestyle may spin off property unit

HONG KONG Mon Oct 8, 2012 8:18pm EDT

HONG KONG Oct 9 (Reuters) - Department store operator Lifestyle International Holidngs Ltd said on Tuesday it is exploring the possibility of a separate listing for its Hong Kong and China property businesses on the Hong Kong stock exchange.

In a filing to the Hong Kong bourse, Lifestyle said it aimed to list its property investment and development businesses that were not intended to be used in the operation of its core department store business.

The unaudited adjusted net asset value of the group that would be spun off accounted for about 18 percent of the company's unaudited consolidated net asset value as at June 30, 2012.

For statement click: here (Reporting by Donny Kwok; Editing by Richard Pullin)

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