Hong Kong-listed real estate giant and gaming operator Far East Consortium (FEC) is planning to spin-ff one of its subsidiaries on the bourse, with a public and international offering of shares.
The group notes that the separate listing of Palasino Holdings ‘is commercially beneficial and in the interest of FEC and its shareholders’ given that it will ‘better position each of FEC and its subsidiaries […] and Palasino Group for further growth’.
The group notes that Palasino’s spin off would let it ‘increase its operational and financial transparency through which investors would assess the performance and potential of the Palasino Group separately and independently’.
Palasino, incorporated in the Cayman Islands, focuses on ‘entertainment, gaming and leisure’, operating an integrated resort in the Czech Republic, three hotels in Germany and one hotel in Austria.
