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Honk Kong-based Hutchison Whampoa is planning to spin off its ports business in Hong Kong, Yantian and China into a separate unit and list them on the Singapore stock exchange. Hutchison said the listing will be completed in March and is expected to raise $6bn. Hutchison
Honk Kong-based Hutchison Whampoa is planning to spin off its ports business in Hong Kong, Yantian and China into a separate unit and list them on the Singapore stock exchange.
Hutchison said the listing will be completed in March and is expected to raise $6bn.
Hutchison Port Holdings Trust is being created to operate container port businesses in Yantian in China’s Guangdong province, Macau and Hong Kong.
Hutchison plans to retain about 25% stake in the trust.
PSA International, which holds a substantial minority interest in Hutchison’s global ports operations, is backing the deal, according to Reuters.
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