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HONG KONG | China mobile tower owner debuts in HK market after $6.9B IPO
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HONG KONG | China mobile tower owner debuts in HK market after $6.9B IPO
HONG KONG — Shares in the state-owned monopoly that operates China’s vast network of mobile phone towers were flat Wednesday as the company made its stock market debut in Hong Kong after raising $6.9 billion from investors.
China Tower Corp. traded at 1.27 Hong Kong dollars (16.2 U.S. cents) per share at midday, little-changed from its initial public offering price of 1.26 Hong Kong dollars (16 U.S. cents).
China Tower says it operates 1.9 million cell tower sites across China, the biggest mobile phone market. It has given no indication of plans to expand abroad.
The IPO surpassed the $5.4 billion raised last month by Xiaomi Corp., the Chinese smartphone brand, in its Hong Kong debut.
By Associated Press
China Tower wins approval in Hong Kong for an IPO that could raise up to $10 billion
#ChinaTower wins approval in #HongKong for an #IPO that could raise up to $10 billion
China Tower, the world’s largest mobile mast operator, has won approval in Hong Kong for an IPO that could raise up to $10 billion, according to people familiar with the situation.
The news comes as investors and bankers were on Friday awaiting the pricing of Chinese smartphone maker Xiaomi’s initial public offering, which could raise up to $6.1 billion, reports Reuters.
Xiaomi’s deal is seen as…
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World's 2nd tallest building opens its top floors to the public
World’s 2nd tallest building opens its top floors to the public
World’s 2nd tallest building opens its top floors to the public, which feature a 1,000-ton stabilizing system and world’s highest concert hall.
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China Unicom Partners Up with China Telecom in Effort to Beat China Mobile
China Unicom Partners Up with China Telecom in Effort to Beat China Mobile
China Unicom and Telecom have just announced a strategic partnership that will allow them to share network equipment. The move comes in an effort to stand up to the market leader, China Mobile, in the country’s rapidly growing 4G sector. The operators say the arrangement will help to both reduce costs and provide better network service to their customers. Besides boosting service quality, they…
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China Tower by torvenius