Cheung Kong Infrastructure IPO 23.2 Times Subscribed
11 July, 1996 - Hong Kong
Cheung Kong Infrastructure Holdings Limited (CKI) announced it had received a total of 15,058 valid applications during its Hong Kong public offering for a total of 622,894,000 shares, approximately 23.2 times the total number of 26,802,000 shares originally available for application on white and yellow forms. Accordingly, 14,890,000 additional shares have been clawed back from the international placement, of which the response was overwhelming.
According to Mr Francis Chang, Managing Director of CEF Capital Limited, "A public response of 15,058 applications is reflective of an extremely broad base of investor support in Hong Kong. This figure is much higher than that of recent new issues."
Mr Eamonn McManus, Director & Head of Corporate Finance & Equity Capital Markets of HSBC Investment Bank Asia Limited, expressed, "Given its large size, we are very pleased with the positive response to the CKI new issue. This strong support for CKI in the Hong Kong market is representative of the inspiring enthusiasm shown by the investment community for the new issue of CKI shares."
Cheung Kong Infrastructure Holdings Limited is the result of combining the infrastructure and infrastructure-related businesses within the Cheung Kong Group. The company will be the vehicle for the Cheung Kong Group's infrastructure businesses in the PRC for power plants, toll roads and toll bridges, as well as its infrastructure-related businesses - cement, concrete, asphalt and aggregates - in Hong Kong, the PRC, and throughout the region.
CEF Capital Limited and HSBC Investment Bank Asia Limited are the Joint Global Coordinators and Joint Sponsors of the global placement and new issue.