SINO Hotels (Holdings) will list on the Hong Kong stock exchange on March 8.
Shareholders have given formal approval to the plan to separate the hospitality division of Sino Land and list it in its own right.
The soon-to-be listed company was separated from Sino Land by a bonus distribution of shares to shareholders of Sino Land and Tsim Sha Tsui (TST) Properties in the form of dividend in specie .
A total of 603.9 million shares were distributed, totalling $2.55 billion. Net asset value per share is $4.22 The Ng family from Singapore - including Sino Land and TST Properties chairman Robert Ng, his father Ng Teng Fong and Philip Ng Chee Tat - holds about 46 per cent of Sino Hotels shares.
Mr Robert Ng will be the chairman and executive director of the hotel group.
Other executive directors include Michael Cheng, Eric Ip, George Kuk and Doreen Fong.