Members of the HA Supervisory Group on Divestment met earlier today for the first time since the Court of Final Appeal unanimously ruled on July 20 that the HA has the power to divest its retail and car-parking facilities, group chairman Walter Chan said.
Chan said members were briefed on the preparatory work that is being undertaken towards the objective of relaunching the public offering.
He did not provide a specific timeframe for the IPO, saying "it is too early to determine the exact re-launch timetable at this stage."
But he said it will be relaunched as soon as practicable within the current financial year subject to "market conditions."
The government was scheduled to privatize HA's retail and car-parking facilities last December, but protests by public housing tenant Lo Siu-lan delayed the 3.0 bln usd privatization bid through a series of court actions.
(1 usd = 7.8 hkd)
jun.concepcion@xfn.com
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