Far East Consortium plans to spin off Palasino Holdings next month
Hong Kong.- Far East Consortium (FEC) has scheduled a date for the planned spin-off of its Palasino Holdings subsidiary. The spin-off, proposed in September, is set for March 11. It aims to improve operational and financial transparency within the corporate structure.
Palasino Holdings, located in the Cayman Islands, manages an integrated resort in the Czech Republic, along with three hotels in Germany and one in Austria.
While FEC has disclosed the proposed date for the global offering of Palasino shares on the Hong Kong Stock Exchange, the registration process and issuance of the prospectus are pending finalisation and the decision is contingent upon approval by the respective boards of FEC and Palasino.
As part of the spin-off, stakeholders of FEC will be entitled to a guaranteed allocation of 10 per cent of Palasino shares.
FEC has previously collaborated with The Star Entertainment Group on the Queen’s Wharf Brisbane project. It will include four luxury hotels, 50 new bars and restaurants, a retail area, up to 2,000 residential apartments and the equivalent of 12 football fields of public space. It is expected to host 2,500 slot machines.
Far East Consortium plans to spin off Palasino Holdings next month Hong Kong.- Far East Consortium (FEC) has scheduled a date for the planned spin-off of its Palasino Holdings subsidiary. The spin-off, proposed in September, is set for March 11. It aims to improve operational and financial transparency within the corporate structure. Palasino Holdings, located in the…
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