Hutchison-backed trust prices IPO above the mid-point

HPH Trust, which owns and operates key ports in Hong Kong and Yantian, will raise $5.45 billion from its Singapore IPO after fixing the price at $1.01 per unit.

One day after Forbes revealed that Li Ka-shing had climbed three notches to 11th on its global rich list last year, the Hong Kong tycoon pulled off another deal to monetise some of his corporate wealth.

According to sources, Hutchison Port Holdings Trust is set to raise at least $5.45 billion from its initial public offering in Singapore after deciding to fix the price slightly above the mid-point of the original range, at $1.01 per unit.

HPH Trust, which is listing as a business trust, comprises the port assets in Hong Kong, Macau and China’s Guangdong province previously owned by Li-controlled Hutchison Whampoa. The money raised...

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