×

Cheung Kong proposes separate listing for hotels arm

HONG KONG, Oct 11 (Reuters) - Cheung Kong (Holdings) Ltd

plans to separately list its hotel business on the Hong Kong stock exchange to free up capital for its operations and for new investment opportunities, while realising the value of the hotels.

Immediately following the completion of the proposed transaction, the company and its affiliate, Hutchison Whampoa Ltd , will in aggregate hold less than 30 percent of the newly listed unit, Cheung Kong said in a filing to the Hong Kong stock exchange on Thursday.

(Reporting by Alison Leung; Editing by Mark Potter)

((alison.leung@thomsonreuters.com)(+852 2843 6369)(Reuters Messaging: alison.leung.thomsonreuters.com@reuters.net))

Keywords: CHEUNGKONG HOTELS/