Li Ka-shing utility HK Electric set to fall in Hong Kong debut
HONG KONG Jan 29 (Reuters) - HK Electric Investments Ltd, the trust backed by billionaire Li Ka-shing's Power Assets Holdings Ltd, is set to fall 0.7 percent in its Hong Kong trading debut on Wednesday after raising $3.1 billion in the biggest initial public offering in Asia, excluding Japan, since late 2012.
HK Electric, spun out of Power Assets, was indicated to open at HK$5.41 compared with an initial public offering (IPO) price of HK$5.45 per unit.
The benchmark Hang Seng index was indicated to start 0.7 percent higher. (Reporting by Elzio Barreto; Editing by Kenneth Maxwell)