Sun Hung Kai Properties is set to purchase a minimum of 10% of the forthcoming IPO of Hopewell Highway Infrastructure HHI. The property company joins Bank of China as one of two strategic investors in the 720 million share deal, which prices at the end of this month.
The company's participation is not that surprising in the light of its bid for the 29km bridge linking Hong Kong to Macau and Zhuhai. HHI and SHK are widely believed to be bidding together in a consortium, which also comprises Henderson Land, Shun Tak Development and New World Development.
The Kwok family, who own SHK and the Wu family behind Hopewell have...
