PCCW and Swire prepare for spin-offs

PCCW and Swire prepare for spin-offs

New listings by pure Hong Kong companies are a rarity these days when virtually all IPOs on the Hong Kong stock exchange are by companies based either in China or some other country outside its borders.Nfl bears jersreys cheap The reason, of course, is that most Hong Kong companies are already listed.

So it is interesting to see not just one, but two, major Hong Kong businesses preparing for a listing in the next few months, namely Swire Properties and HKT Trust,Nfl womens jerseys which comprises PCCW’s telecommunications business. Both are spin-offs from companies that are already listed,Human hair Full lace wigs but account for the majority of revenues and profits at their respective parent companies, making this an interesting exercise not just for the unit that is being spun off, but for the parent company and its shareholders as well.

The two listing candidates have chosen different routes towards their separate listings, however.

Swire Properties, the property development and investment unit which is currently wholly owned by Swire Pacific, said in statement at the end of last week that it has decided to list by introduction. This means that it won’t be issuing any new shares, although it will distribute about 17% of Swire Properties’ share capital to existing investors in Swire Pacific.

PCCW on the other hand is aiming to float its telecom assets on the Hong Kong stock exchange in the form of a dividend-paying trust and said over the wedigital video recordersekend that it may raise about $1.3 billion, assuming it is able to sell as much as 36.7% of the trust and based on a valuation floor that translates into a dividend yield of about 9%.

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