Link Reit: Record breaking IPO for HK government

IPO mania sweeps through Hong Kong for the second year in a row as Link Reit attracts a retail order book of $35 billion.

Link Reit priced its IPO at the top end of a HK$10.51 to HK$10.83 indicative price range this weekend, raising gross proceeds of HK$23.7 billion $3.04 billion for the Hong Kong government post greenshoe. The 2.1889 billion share deal broke a number of records including largest ever global Reit IPO by a factor of five most aggressively priced Reit IPO relative to NAV largest Asian equity deal of 2004 largest Hong Kong government privatization to...

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