Barclays and the Lehman Brothers estate are butting heads over whether to sell Archstone or its assets privately or instead take the apartment giant public in the largest real-estate IPO ever.
The institutional part of Li Ka-shing’s Hui Xian REIT, the first yuan-denominated IPO outside mainland China, was almost fully subscribed on the first day of its launch.
Cheung Kong Holdings’s yuan-denominated real estate investment trust plans to raise $1.53 billion to $1.83 billion in an IPO ahead of its listing in Hong Kong.
The sharp rise in the value of rental-apartment buildings is raising the likelihood that Archstone will be resold to the public this year in what could be the largest real-estate IPO ever.