Yes it is how the spin out will benefit the shareholders that I am a bit worried about that they might mess up. The shareholders will only benefit if they end up directly owning the shares on the Hong Kong stock exchange.
When any stock is simultaneously traded on two or more different exchanges hedge funds, big banks and many other kinds of traders will buy on the lower priced exchanged while selling on the higher priced exchange until the pricing becomes balanced. Some of these traders even have high speed computers on the floors of the exchanges so they can do the trading electronically. These guys make a lot of money trading huge numbers of shares at mere fractions of price differentials.
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