Great Eagle files IPO application for hotel business

Hong Kong property and investment company Great Eagle Holdings said on Monday that one of its subsidiaries had filed a listing application for a planned initial public offering of its full-service hotel business.

Under the plans, Great Eagle will spin off its Hong Kong properties, which include the upscale Langham, Langham Place and Eaton hotels, into a separate business. The company will list the business through a share stapled unit structure, similar to business trusts in Singapore, and own at least 51 per cent of the units after the offering.

via Business feed http://www.scmp.com/business/companies/article/1188279/great-eagle-files-ipo-application-hotel-business