CHINA TOWER EYES HONG KONG IPO

After smartphone maker Xiaomi filed for an IPO in Hong Kong that could raise up to $10 billion, China Tower, an entity running the towers operations of the country’s three telcos, has applied to list there, reportedly looking for a valuation of up to $40 billion. The company operated 1.9 million tower sites in 2017 and its profit went up more than 25 times to 1.9 billion yuan.