DDB is believed to have pitched against Ogilvy & Mather, Euro RSCG, FCB and Saatchi & Saatchi.
The five agencies had been shortlisted after the Authority initially approached 17 Hong Kong agencies (Media, September 10)
Earlier in the year, the Government announced plans for the Authority to sell off its retail and car-park facilities either in late 2004 or early 2005.
The Government wants the Authority to focus on its primary goal of providing subsidised housing as well as achieve financial sustainability over the long term.
The Authority expects to net more than HK$20 billion (US$2.5 billion) from the sale of more than one million square metres of retail space and 100,000 car-park lots, currently held under its real estate investment trust, The Link Management, established for the IPO.
DDB has previously handled two other major IPO-related accounts in Hong Kong, beginning with the Government's disposal of its stake in Hang Seng-listed stocks through the launch of the Exchange Fund in the late '90s, and the Mass Transit Railway Corporation's listing in 2000.
DDB wins shootout for HK Housing Authority's IPO task
The Housing Authority is believed to have tapped DDB to handle communications for the divestment of its massive retail and car-parking service portfolio.
