UPDATE 1-Hong Kong gears up for another $10 bln IPO with planned China Tower flotation [Reuters]
CHINA MOBILE (CHL)
US:NYSE Investor Relations:
chinamobileltd.com/en/ir/reports.php
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Source: Reuters
Hong Kong gears up for another $10 billion IPO with planned China Tower flotation | Reuters 4 Min Read HONG KONG (Reuters) - China Tower, the world’s biggest operator of mobile phone towers, has applied to list its shares in Hong Kong in what could become the city’s second $10 billion offering this year. The company, formed in 2014 from the towers operations of China’s three state-backed telecoms providers, filed its application for an initial public offering (IPO) on Monday. The application comes a little more than a week after Chinese smartphone maker Xiaomi filed for an IPO that could also raise as much as $10 billion. It would be the first time the city has hosted two mega-flotations since 2010, when insurer AIA ( 1299.HK ) and Agricultural Bank of China ( 1288.HK ) raised $20 billion and $22 billion respectively, Thomson Reuters data shows. China Tower is expected to seek a valuation of up to $40 billion, according to sources with knowledge of the plans. The final size of both
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