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Article: Hong Kong : Swire s Real-Estate Spinoff May Generate at Least $3.9 Billion.
- Article from:
- TendersInfo
- Article date:
- November 4, 2009
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Byline: shiv03
Swire Pacific Ltd., the Hong Kong company with businesses ranging from soft drinks to airlines, may raise at least HK$30 billion ($3.9 billion) by listing its property unit, CLSA Asia-Pacific Markets Ltd. estimated.
Swire rose 1.1 percent in Hong Kong trading after the company said it may spin off Swire Properties Ltd., which accounted for 32 percent of revenue in the first-half. Maisie Shun Wah, a spokeswoman at Swire, declined to comment on whether the plan would include a share sale.
A separate listing may enable Swire to command a higher valuation for its property assets and raise money more cheaply as Hong Kong office rents ...