Link Reit: Record breaking IPO for HK government

Link Reit priced its IPO at the top end of a HK$10.51 to HK$10.83 indicative price range this weekend, raising gross proceeds of HK$23.7 billion ($3.04 billion) for the Hong Kong government post greenshoe. The 2.1889 billion share deal broke a number of records including: largest ever global Reit IPO by a factor of five; most aggressively priced Reit IPO relative to NAV; largest Asian equity deal of 2004; largest Hong Kong government privatization to date and largest retail order book.