Hong Kong-listed companies to spin off existing businesses

Brilliance China Automotive Holdings is aiming to spin off its engine-manufacturing unit, in which it owns 42.5%, for a separate Hong Kong listing. According to a source, the deal may raise about $100 million and bankers are planning to start investor education on Monday.

Some 25% of the unit, which is called Xinchen China Power Holdings, will be sold to the public, reducing Brilliance China’s stake to about 31.9%. Bank of America Merrill Lynch is mandated as the sole bookrunner.

Separately, property development and highway infrastructure company Hopewell Holdings said before the Chinese New Year holidays that it has obtained approval from the Hong Kong stock exchange...