Zhong An Real Estate Ltd. (00672.HK) intends to spin off its China New City Commercial Development Ltd. unit and list it separately on the Hong Kong stock exchange’s main board, the company said in a regulatory filing late Monday. The listing application has been submitted and is pending regulatory approval, it said. China New City develops, sells, and invests in commercial properties in suburban centers of second-tier Yangtze River Delta cities. The shares will be offered to Hong Kong investors as well as professional and institutional investors around the world. China New City will remain a subsidiary of Zhongshan An after the spin-off, the filing noted.
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