Part of Hui Xian IPO Almost Fully Subscribed ?

By POLLY HUI

HONG KONG—The institutional tranche of Hong Kong billionaire Li Ka-shing's Hui Xian REIT, the first yuan-denominated IPO outside mainland China, was almost fully subscribed on the first day of its launch Monday, a person familiar with the situation said Tuesday.

Hui Xian, which plans to raise up to 11.2 billion yuan ($1.7 billion) from its listing, will sell two billion units, or 40% of the company. The person didn't disclose the percentage of subscription for the available shares.

The listing plan of Hui Xian REIT, which is part of Mr. Li's flagship Cheung Kong Holdings Ltd., comes less than a month after the Hong Kong businessman raised $5.4 billion from a Singapore listing of Hutchison Port Holdings Trust, which owns deep-water ports in Hong Kong and China.

source: http://online.wsj.com

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