Shui On Land (HKG:0272) announced that China Xintiandi yesterday submitted a listing application form to the Stock Exchange for the listing of, and permission to deal in, the China Xintiandi shares in issue and to be issued under the global offering on the Main Board of the Stock Exchange.

The business of China Xintiandi will focus principally on managing, designing, leasing, marketing, enhancing and redeveloping premium retail, office, entertainment and hotel properties in affluent urban areas in the PRC.

The board proposes to give due regard to the interests of shareholders by providing qualifying shareholders with an assured entitlement to China Xintiandi shares by way of a preferential offering if the proposed spin-off takes place. Details of the preferential offering have not yet been finalised. The company will make further announcement(s) in this regard as and when appropriate.