Hong Kong-based Regal Hotels International Holdings has become the latest property company to suffer from adverse conditions in the country's real estate investment trust market, one of the world's largest, after it was forced to pull the $760m (€579m) initial public offering of its hotels division.

The company had planned to spin off of its hotels business beginning December 28, but shelved the float after its share price dropped over 14% over the last month to close at HK$0.68 at 9.30 GMT.