Shui On Land to boost spin-off with 68b yuan asset injection

Shui On Land yesterday unveiled a major restructuring plan to inject its commercial portfolio, valued up to 68 billion yuan (HK84.6 billion), into its listing candidate China Xintiandi, in an attempt to boost investors' confidence.

Xintiandi, a wholly owned subsidiary, will start operations on March 1.

Shui On announced plans to spin off Xintiandi in May last year. Chairman Vincent Lo Hong-sui will take the lead in setting up and positioning the subsidiary.

via Business feed http://www.scmp.com/business/companies/article/1124249/shui-land-boost-spin-68b-yuan-asset-injection