MTR Corp takes to the tracks

Launch of what is projected to be a HK$20 billion ($2.58 billion) deal is scheduled to take place in mid-September for listing on the Hong Kong Stock Exchange by the end of the month. Backed by lead managers Goldman Sachs, HSBC and UBS Warburg, the government is hoping to sell a 25% stake in the rail operator, ahead of a second 25% stake next year.