Swire Properties yesterday kicked off the institutional roadshow for a Hong Kong initial public offering that will see it become slightly more independent from its parent company Swire Pacific which also has interests in industries such as aviation, retail and marine services.
The spin-off of Swire Properties will allow the developer and investment property owner to better position itself for its continued expansion, particularly in China, by being able to more easily raise capital as it needs it. That said, Swire Pacific and ultimate owner John Swire Sons, are by no means letting go of this profitable business and Swire Pacific will still own 83.9% of the company after listing, according to an announcement to...
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