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Times China plans to spin off property management business in Hong Kong

Times China Holdings Ltd. proposed to separately list its Times Neighborhood Holdings Ltd. subsidiary on the Hong Kong stock exchange.

Times Neighborhood primarily provides property management services, value-added services to nonproperty owners, community value-added services and other professional services. Following its listing, it will cease to be a subsidiary of the Chinese property company, according to a filing.

Times China noted that the planned listing is subject to various conditions including the approval of the Hong Kong bourse's listing committee, the respective boards of the parent company and the subsidiary, and on market conditions. The developer added that there is no guarantee that the proposed spinoff will push through.