Hutchison-backed trust prices IPO above the mid-point

HPH Trust, which owns and operates key ports in Hong Kong and Yantian, will raise $5.45 billion from its Singapore IPO after fixing the price at $1.01 per unit.

One day after Forbes revealed that Li Ka-shing had climbed three notches to 11th on its global rich list last year, the Hong Kong tycoon pulled off another deal to monetise some of his corporate wealth.

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