MTR privatisation an all-round hit

International investors are facing a massive scale back in allocations after the one billion share offering for Hong Kong''s MTR Corp closed hugely oversubscribed yesterday (Thursday).

The Hong Kong government and global co-ordinators Goldman Sachs, HSBC and UBS Warburg have been presented with an allocation nightmare this weekend, as they try to divide up a roughly $16 billion order book for a $1.21 billion deal, at the top end of its indicative range.

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