Issuer: Mass Transit Railway Corporation Deal: privatization IPO Amount: HK$10.8 billion Date: October 1 2000 Global co-ordinators: Goldman Sachs, HSBC, UBS Warburg
The IPO of underground railway operator Mass Transit Railway Corporation was hugely oversubscribed and that at a time of dismal market conditions – the Hang Seng index had lost 20% since July. But MTRC’s new shares markedly outperformed the Hang Seng index. In the first three months of its public life the company traded up 50% from an initial share price of HK$9.38, and was one of the best performers on the Hang Seng. | ||||||||||||||||||||||||||||||||||||||||||