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HKBN raises USD 750 mln in IPO
2015-03-06 02:31:00| Telecompaper Headlines
(Telecompaper) Hong Kong-based fibre network operator HKBN raised USD 750 million in an IPO, the Wall Street Journal reports. Private-equity firm CVC Capital Partners and other shareholders, including Singapore sovereign-wealth fund GIC, sold 645 million shares at HKD 9. CVC will hold about a 14.4 percent stake in the operator after listing, compared with 70.7 percent currently, while GIC will hold a 9.9 percent stake, down from 11.3 percent. HKBN is scheduled to list on the Hong Kong Stock Exchange on 12 March. The offering is the largest in Hong Kong this year and the second biggest in Asia Pacific, after the USD 1.7 billion listing by Jasmine Broadband Internet Growth Infrastructure Fund in Bangkok last month.
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Category:Telecommunications
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