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January 19, 2011

Hutchison to Raise $6bn in Ports Spin Off

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

By cms admin

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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