Everbright International plans to spin off greentech business

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 Chinese financial services giant 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 company would be between HK$10.4 billion and HK$11.8

billion ($1.3 billion-$1.5 billion), the company said.

($1 = 7.7718 Hong Kong dollars)

(Reporting by Farah Master and Michelle Price; Editing by

Edwina Gibbs)