- The Link REIT
The Link REIT (Chinese: 領匯房地產投資信託基金, or 領匯;sehk|0823) is one of the world's largest REITs, or real estate investment trusts with assets of around
US$ 3.3 billion.The REIT includes 180 properties, primarily shopping malls and carparks, formerly owned by the
Hong Kong Housing Authority , a Hong Kong Government agency and was created to privatize the said properties.IPO controversy
The Link REIT
IPO was 18 times oversubscribed [http://www.forbes.com/home/feeds/afx/2005/11/25/afx2353844.html] . About 510,000 Hong Kong residents, or seven percent of the city's population, placed US$36 billion of orders while institutional investors were ready to commit US$40 billion.The IPO's joint global coordinators were
Goldman Sachs , HSBC Holdings plc, andUBS AG .JPMorgan Chase & Co. was thefinancial adviser to the Housing Authority.The proposed flotation of the Link REIT by the Housing Authority was derailed when a public housing tenant, Lo Siu Lan, challenged the legality of the proposed divestment of the properties. She represented a concern among the many Hongkongers who live in public housing that existing amenities would no longer be public and that the Link REIT would raise prices without due consideration of the public good. Some NGOs also were concerned that the reduced income of the Housing Authority would eventually lead to rent rises for public tenants.
ee also
*
Champion REIT
*Securitization (see "government securitization")
*REITExternal links
* [http://www.thelinkreit.com/index.asp thelinkreit.com]
* [http://www.thelinkmanagement.com/ thelinkmanagement.com]
* [http://www.linkwatch.hk/ linkwatch.hk]
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