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.
The business is controlled by Li Ka-shing and is one of only two electricity producers in Hong Kong
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 Kong as a fixed single investment trust That trust, under the name of HK Electric Investments, will then be selling units to investors through an initial public offering

The plan is to sell between 50 1% and 70% of...

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