Link Reit: Deja Vu

Roadshows begin for second attempt to complete world's largest Reit IPO.

Roadshows begin today November 10 for a HK$18.7 billion to HK$19.8 billion $2.4 billion to $2.5 billion IPO by Link Reit, Hong Kong's inaugural Real Estate Investment Trust. Under the lead management of Goldman Sachs, HSBC and UBS, presentations will continue until Friday November 18, before the offering is priced over the weekend and listed on Friday November 25.

The transaction will have a base deal size of 1.926 billion units and a greenshoe of 211.6 million units. On full completion the deal will have a 100% freefloat.

This has been deliberately structured to make sure the Reit's links with the government are cut...

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