Two new Hong Kong Reits have been launched on accelerated timetables in the hope of cashing in on the sector's current high standing with investors. Prosperity Reit is scheduled to price first after launching its Hong Kong public offering yesterday December 5.
Under the lead management of JPMorgan and Merrill Lynch, the Cheung Kong vehicle is issuing a lucky 888 million units on a range of HK$2 to HK$2.16. The HK$1.7 billion $227 million to HK$1.9 billion $245 million IPO will price on Friday and list on December 16.
It has the standard 90%10% split between institutional and retail investors...
