The REIT is selling 1.23 billion units between HK$5 and HK$5.75each and it will offer investors a guaranteed yield of between4.84% and 5.57%. The REIT will be priced May 16, and trading willbegin May 24.

Champion REIT, which holds Citibank Plaza, will be Hong Kong'sfourth listed REIT. Citibank Plaza, with a total office and retailfloor space of 1.49 million sf excluding parking spaces, was valuedat HK$22.67 billion ($2.92 billion) on Feb. 28, according to theprospectus. It will be managed by Eagle Asset Management.

Eagle Asset Management is a wholly owned subsidiary of GreatEagle, which also operates Langham Hotels in Hong Kong, the US, UK,Australia and New Zealand. Jeremy Stewardson, chief executive ofEagle Asset Management, said that he was hopeful Citibank Plazawill achieve full occupancy by the end of this year. As of the endof February, offices in the Plaza were 86.1% let and retail 100%let.