HONG KONG, April 13 China Everbright
International said on Thursday it plans to spin off
and separately list its greentech subsidiary, in a deal that
could value the business at up to $1.5 billion.
The Chinese financial services giant said it plans to sell
up to 644 million shares in China Everbright Greentech Limited,
representing around 30 percent of the company, at between
HK$5.18 and HK$5.90 per share.
The proposed Hong Kong listing is subject to approval by the
Hong Kong exchange listing committee.
The market capitalisation of China Everbright Greentech
Limited company would be between HK$10.4 billion and HK$11.8
billion ($1.3 billion-$1.5 billion), the company said.
($1 = 7.7718 Hong Kong dollars)
(Reporting by Farah Master and Michelle Price; Editing by