(Updates with the IPO investor in the second paragraph).
April 12 (Bloomberg) - billionaire Li Ka-shing of the real estate investment trust, who seeks to obtain as much as 11.2 billion yuan ($1.7 billion) in an initial public, offering orders received for all offered shares yesterday, the day that the sale has begunsaid people with knowledge of the transaction.Investors including based in New York Och-Ziff Capital Management Group LLC purchase units of Hui Xian REIT, which will close subscriptions on 19 April, said the people, who refused to be identified because the information is private.Yuan deposits swelling of Hong Kong allowed Hui Xian to deliver a return that is lower than that of other publicly traded REITs in the city. "Hui Xian investors receive a performance measure of 4.26%, seven times more high on a one-year deposit less HK$ 500,000 ($64,300) to HSBC Holdings Plc." while the price seems a bit tight to other REITs listed in Hong Kong, perhaps retail investors still enthusiastic about it, in the light of the much lower rates on time deposits RMB in Hong Kong, "said Binay Chandgothia, a portfolio manager at Principal Global Investors, which oversees more than 200 billion dollars of assets on a global scale.The Chinese currency is also known as the Renminbi, or RMB.Hui Xian offers 2 billion units in a price range of yuan 5.24 to 5.58 yuan in Hong Kong, according to the prospectus of the released IPO performance expected April 10. Lower YieldThe IPO investors is 4 to 4.26% annualized for the period from April 29 to June 30, said the statement. Most of the real estate investment trusts listed in Hong Kong yield 5 to 6%, according to Jonas Kan, head of research of Hong Kong to the FPI Daiwa Securities Capital Markets.Among Hong Kong-listed, Sun Real Estate Investment Trust is estimated to yield to 6.8% this annéeREIT Champion can return to 4.6% and link REIT is forecast to decrease yield of 4.4 per cent, according to Katie Chan, an analyst based in Hong Kong to Haitong International Securities Group Ltd.Winnie Cheong, a spokesman for Cheung Kong Hong Kong, did not respond immediately to calls seeking comment. Hong Kong's Ziff-Och Office employee, who declined to be identified by name, did no commentaire.Hui Xian IPO can pave the way for other developers to make similar offers as Hong Kong exchanges & Clearing Ltd. seeks to expand its range of products to compete in the region. The sale offers investors in Hong Kong, a way of betting on the appreciation of the Chinese currency getting higher performance than deposits denominated in yuan city, which reached a record of 52 billion in February.Premium TowersBOC International Holdings Ltd.securities, Citic and HSBC Holdings Plc manage the sale, which began yesterday. The offer is supported by the properties of the Oriental Plaza covering 100,000 square meters (1.1 million square feet) along the Central Plaza Beijing.Oriental Changan Avenue consists of eight high-end office towers, a shopping centrea Grand Hyatt Hotel and apartments, according to its Web site. Cheung Kong Holdings Ltd., controlled by Li, Hong Kong developer owns 33.4% of Oriental Plaza, while only affiliate Hutchison Whampoa Ltd. has 18 per cent, according to the annual report 2009 of the companies.Companies Baar, Switzerland-Basic-based Glencore International AG to Prada SpA of Milan plan share sales in Hong Kong this quarter, providing a boost to the thrust of the Exchange to become a hub of intellectual property offices. Sales may push the value of offers of more than 20 billion, which would be a record for a second quarter, data compiled by Bloomberg show.-With the help of Stephanie Tong and Li administration in Hong Kong. Editors: Philip Lagerkranser, Jeff St.Onge
To contact the reporters on this story: Zijing Wu in London, zwu17@bloomberg.net Hu Fox in Hong Kong to the fhu7@bloomberg.net
To contact the editor responsible for this story: Philip Lagerkranser to the lagerkranser@bloomberg.net
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