HK electricity trust to have at least $6.2bn market cap

Power Assets says the listing of its Hong Kong electricity business in the form of a trust is scheduled for January 29. The aim is to sell up to 70% to public investors, which implies a potential deal size of up to $5.7 billion.

HK electricity trust to have at least $6.2bn market cap
The business is controlled by Li Ka-shing and is one of only two electricity producers in Hong Kong

Power Assets Holdings is expecting its Hong Kong electricity unit to have a market capitalisation of between HK$48 billion and HK$63.4 billion $6.2 billion to $8.2 billion following the spin-off and separate listing on the Hong Kong stock exchange, according to an announcement.

The business, which is controlled by Li Ka-shing and is one of only two electricity producers in Hong Kong, will be sold to a business trust-like structure known in Hong...

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