Why Were MPF Funds Eager for the First RMB IPO?

What Was the “First RMB Share”?

Cheung Kong’s Hui Xian REIT (87001) was set to debut next Monday as the first RMB-denominated new listing, with an entry ticket possibly near RMB 6,000. Pricing talk had reportedly risen to RMB 5–6 per unit, stoking interest from retail and institutional investors alike.

Why Were MPF Funds Interested?

Institutional investors including the usually conservative MPF funds were actively studying subscriptions. But investing required clearing two hurdles: SFC approval plus, for MPF, MPFA approval — and many investment managers had already asked both regulators.

What Did the Market Expect?

If approved, Greater China equity funds, balanced products and growth funds managing over HK$10 billion would all seek allocations, boosting demand. Warrant issuers such as BNP Paribas were also keen to launch warrants alongside the first RMB share.