HONG KONG: Chinese property developer Shui On Land Ltd plans to seek a separate listing of its commercial property asset on the Hong Kong stock exchange, the Hong Kong Economic Journal reported on Thursday, citing a senior executive.
Shui On Land, the developer of the Xintiandi project in central Shanghai, is in discussion with investment bankers, accountants and lawyers regarding the plan, and no listing application has yet been submitted, the paper cited executive director Daniel Wan as saying.
The paper gave no further details.
A company spokeswoman said it had no comment on the report.
Shui On Land, which plans and develops large-scale city projects and integrated residential developments in China, said last November that it was "positive" about achieving its 10 billion yuan sales target for 2011 despite a slowdown in the market.
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