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China Tower Plans $8.7 billion Hong Kong IPO

Chinese telecommunications tower operator China Tower is looking to open the retail book for its blockbuster IPO in Hong Kong in which it looks to raise $8.8 billion at a valuation of up to US$35 billion.

China Tower is offering 43.1 billion shares globally at a range of HK$1.26 to HK$1.58 (US$0.16 to US$0.20) each with pricing expected on August 1 and will debut on the Hong Kong exchange on Aug 8.

The flotation will surpass the HK$42.6bn (US$5.4bn) listing of Xiaomi earlier this month . . .

 

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