Hong Kong gets it Reit

Hong Kong''s largest government privatization is priced (again).

The pricing this weekend of a HK$19.83 billion $2.54 billion offering by Link Reit sees the Hong Kong government set the record for the world's largest Reit IPO for the second year in a row. In December 2004, a similarly sized offering was de-railed by a legal challenge from two disgruntled tenants between pricing and listing.

This year the Hong Kong Housing Authority is quietly confident its deal will start trading on schedule this Friday at HK$10.30 per unit. Having been marketed at HK$9.70 to HK$10.30 per unit, the 1.926 billion unit offering was priced on Saturday by lead managers Goldman Sachs, HSBC and UBS. There...

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