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Li's realty trust
Source: Agencies |
December 23, 2010, Thursday
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Print Edition
Print Edition
CHEUNG Kong (Holdings) Ltd Chairman Li Ka-shing is planning a rental property spinoff on the Chinese mainland through a yuan-denominated Real Estate Investment Trust, the Hong Kong Economic Times reported yesterday.
The REIT, which is estimated to raise about 10 billion yuan (US$1.5 billion), will be the first yuan-denominated initial public offering in Hong Kong, expected to be launched in the first half of 2011, the newspaper reported, citing market sources.
The rental property included hotels, commercial properties and shopping malls, the report added.
The IPO has got green light from relevant authorities, while CITIC and HSBC are handling the deal, the paper said.
The REIT, which is estimated to raise about 10 billion yuan (US$1.5 billion), will be the first yuan-denominated initial public offering in Hong Kong, expected to be launched in the first half of 2011, the newspaper reported, citing market sources.
The rental property included hotels, commercial properties and shopping malls, the report added.
The IPO has got green light from relevant authorities, while CITIC and HSBC are handling the deal, the paper said.
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