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...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222