The Link REIT - Definition and Overview

For the pro-German organization, see The Link.
Not to be confused with Hong Kong Link.

The Link REIT (ticker symbol: 2382 on the Hong Kong Stock Exchange) is (as of 2004) the world's biggest REIT, or real estate investment trust 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 REIT IPO attracted orders equal to 28 times the amount of stock in the real estate trust on offer. About 510,000 Hong Kong residents, or 7 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 and UBS AG. JPMorgan Chase & Co. was the financial adviser to the Housing Authority.

See also

• Securitization (see "government securitization")