Singapore’s largest ever public offering HPH Trust fell nearly 6% in its first 45 minutes of trading this afternoon. The $5.45bn initial public offering of Hutchison Whampoa’s Pearl River Delta port assets was roughly three times oversubscribed.
The units priced at $1.01 lost close to 6% in the first 45 minutes of trading changing hands at $0.95 per unit.
Canning Fok, HPH Trust chairman, declared they were happy with the result despite the fall in price in early trading. “Considering the situation I think it’s an excellent result. We got excellent support in the roadshow and I am very positive about whole thing,” he told reporters.
The units priced at $1.01 lost close to 6% in the first 45 minutes of trading changing hands at $0.95 per unit.
Canning Fok, HPH Trust chairman, declared they were happy with the result despite the fall in price in early trading. “Considering the situation I think it’s an excellent result. We got excellent support in the roadshow and I am very positive about whole thing,” he told reporters.