allocating The Link REIT units
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The following is issued on behalf of the Housing Authority:
The Housing Authority (HA) announced today (October 26) that The Link Management Limited agreed with its strategic partner, CapitaLand, that the allocation to CapitaLand of units in The Link REIT in the planned re-launched IPO may be scaled back at the discretion of The Link Management.
Under the revised terms of the co-operation agreement, The Link Management has the right to reduce CapitaLandˇ¦s pre-allocation by one-third, from US$180 million (its existing commitment) to US$120 million.
"The revision allows greater flexibility to allocate units to other investors, including local retail investors and Mandatory Provident Funds," a spokesman for the HA said.
On September 6, 2005, HA announced it intended to relaunch the IPO of The Link REIT before the end of 2005 and that CapitaLand would remain the strategic partner of The Link Management. The Link Management will remain a wholly-owned subsidiary of HA until relaunch of the IPO. CapitaLand is a leading property company in Singapore owning and managing a number of REITs and other commercial properties in the region.
Disclaimer:
This press release is not for distribution, directly or indirectly, into the United States, Japan or Canada. This press release is not for, and is not intended to be, an offer of securities for sale in the United States and/or any other jurisdictions nor is it an offer of, or invitation to subscribe for, securities in Hong Kong. Securities of the REIT may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933.
Ends/Wednesday, October 26, 2005
Issued at HKT 18:02
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