(Adds details about the greentech unit)
HONG KONG, April 13 (Reuters) - China Everbright
International said on Thursday it plans to spin off
and separately list its greentech subsidiary, in a deal that
could value the business at up to $1.5 billion.
The energy and infrastructure firm said it plans to sell up
to 644 million shares in China Everbright Greentech Limited,
representing around 30 percent of the company, at between
HK$5.18 and HK$5.90 per share.
The proposed Hong Kong listing is subject to approval by the
Hong Kong exchange listing committee.
The market capitalisation of China Everbright Greentech
Limited, which invests in biomass, hazardous waste treatment,
solar energy and wind power projects, would be between HK$10.4
billion and HK$11.8 billion ($1.3 billion-$1.5 billion), the
China Everbright International said last year that a
spin-off listing would increase the operational and financial
transparency as well as unlock the potential value of the unit.
The unit is expected to benefit from mainland China's policy
to support the environmental protection industry.
($1 = 7.7718 Hong Kong dollars)
(Reporting by Farah Master and Michelle Price; Editing by