March 11, 2013 / 4:51 AM / 5 years ago

Great Eagle says filed application for hotel business HK IPO

HONG KONG, March 11 (Reuters) - 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)

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