Hong Kong government mandates first Reit

The HK government''s housing arm picks three trusted banks to lead its IPO.

Hong Kong's Housing Authority HKHA has appointed UBS, Goldman Sachs and HSBC as joint global coordinators for what could be Hong Kong's first real estate investment trust Reit. JPMorgan has been appointed as financial adviser.

The mandate comes as little surprise given the relationship the three have developed with the Hong Kong government in recent years. They acted as joint global co-ordinators for the government's last divestment - the privatization of the MTR Corp in...

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