two-new-hong-kong-reits-hit-ipo-market

Two new Hong Kong Reits hit IPO market

Henderson's Sunlight Reit returns with a higher yield and downside protection for investors, while Regal's status as the first hotel Reit is expected to act as a draw.

By Anette Jönsson

November 26, 2006

Almost a year to the day after the Link ReitÆs stunning trading debut, two more real estate investment trusts are seeking to tap the Hong Kong equity market. And they could have their work cut out for them, given that local investors have been rather cold towards Reits since then.

The Link Reit, which has risen 58% over its initial public offering price stands out as an anomaly in a market where the other three listed Reits have been at best treading water since their respective debuts. Champion Reit which listed in late May is currently trading 30% below its IPO price, while Prosperity Reit, which came to market last December, is down 21%. GZI...

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