Hong Kong-listed China Overseas Land & Investment is considering restructuring its mainland property business by forming a Sino-foreign joint-stock company with its ultimate parent, China State Construction Engineering.
Under the proposal, China Overseas Land and China State Construction would each inject property assets into the new company.
But an announcement yesterday said no definite plan had been made regarding the size of the joint company or the type of property assets to be injected.
Analysts believed the move was part of China State Construction's A-share listing plans in the mainland.
China Overseas Land chairman Sun Wenjie spoke of the listing intention in April.
Early this year, Mr Sun was appointed by Beijing as president of the State Council-controlled China State Construction, widely considered a key move in preparation for the restructuring and listing.
China State Construction owns about 57 per cent of China Overseas Land.