Almost immediately after the Hong Kong government had breathed a collective sigh of relief following the difficult but ultimately successful IPO of Link Reit, in late November 2005, Link discovered that TCI had built up a stake of 17.95%. While TCI’s intentions are unclear, its presence on the register did the share price no end of good: Link units jumped to a premium of 40% to the initial offering price.
In December 2005, TCI also filed disclosures that, together with a related fund, it had built up a stake of 14.85%
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