SM Prime Holdings, the mall development arm of the SM Investments Corporation, is planning to list in an overseas exchange the shares of its wholly-owned unit that owns its China mall operations within five years.

This is according to SMIC and SMPHI chief finance officer Jose Sio yesterday who talked to reporters after he was named CFO of the Year by the Financial Executives Institute of the Philippines.
Sio said the they are still trying to decide whether to list the unit in Shanghai, Hong Kong or Singapore noting that while they do not have operations in Singapore, they have a bigger equities market there.

Currently Mega Make Enterprises Limited (BVI) holds SM’s Xiamen and Chengdu malls, Affluent Capital Enterprises Limited (BVI) holds the mall in Jin Jiang, SM Land (China) Limited (HK) holds mall properties in Chongqing, Suzhou, Zibo.

However, SM Prime intends to eventually restructure its China investments and consolidate all assets in SM Land in preparation for its eventual initial public offering and listing overseas.