Great Eagle set to spin off its Hong Kong hotel holdings

Great Eagle Holdings is to spin off its hotel properties in Hong Kong to try to cash in on an influx of mainland travellers that drove the city's tourist arrivals to a record of more than 46 million last year.

In a statement filed with the stock exchange, Great Eagle said a proposal has been submitted to seek a separate listing of its hotel properties on the exchange's main board in the form of share-stapled units.

A stapled security is a combination of two or more securities, such as a share in a corporation and a unit in a unit trust, which cannot be traded separately.

via Business feed http://www.scmp.com/business/companies/article/1135511/great-eagle-set-spin-its-hong-kong-hotel-holdings