HONG KONG, March 11 Hong Kong property and
investment company Great Eagle Holdings Ltd said on
Monday that one of its subsidiaries had filed a listing
application for a planned initial public offering of its
full-service hotel business.
Under the plans, Great Eagle will spin off its Hong Kong
properties, which include the upscale Langham, Langham Place and
Eaton hotels, into a separate business. The company will list
the business through a share stapled unit structure, similar to
business trusts in Singapore, and own at least 51 percent of the
units after the offering.
The IPO could be worth about $800 million, Thomson Reuters
publication IFR reported previously.
Deutsche Bank AG and HSBC Plc will act
as sponsors of the listing, Great Eagle said.
(Reporting by Elzio Barreto; Editing by Chris Gallagher)