China Merchants Reit nets $328m from HK IPO

construction 230-150x
By Jonathan Breen
06 Dec 2019

China Merchants Commercial Real Estate Investment Trust has raised HK$2.6bn ($327.6m) from its IPO, breaking a six-year drought of Reit listings in Hong Kong.

The issuer saw strong demand for its float, building a multiple-times covered book with a mixed bag of institutional investors. The flow of demand was no surprise as the deal brings to an end a six-year lull in Reit IPOs in the special administrative region. 

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