MTR Corp takes to the tracks

The analysts meeting for the high profile privatisation of Hong Kong''s urban rail network takes place today (Friday) ahead of its flotation next month.

Launch of what is projected to be a HK$20 billion $2.58 billion deal is scheduled to take place in mid-September for listing on the Hong Kong Stock Exchange by the end of the month. Backed by lead managers Goldman Sachs, HSBC and UBS Warburg, the government is hoping to sell a 25% stake in the rail operator, ahead of a second 25% stake next year.

The offering is also expected to be ...

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