China Tower seeks banks for US$10b IPO

New Straits Times - - Business -

HONG KONG: China Tower Corp, which owns and man­ages the mo­bile phone tow­ers for China’s three state-owned tele­com op­er­a­tors, has in­vited in­vest­ment banks to pitch for a role in a Hong Kong ini­tial pub­lic of­fer­ing (IPO) worth up to US$10 bil­lion (RM42.76 bil­lion), IFR re­ported yes­ter­day. The IPO would take place late this year or early next year, said IFR cit­ing sources. If China Tower were to sell a 10-20 per cent stake in the IPO, the deal could raise be­tween US$5 bil­lion and US$10 bil­lion. Agen­cies

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