Deals
China Tower Raises $6.9 Billion in IPO Priced at Low End
- State-owned giant prices Hong Kong share sale at low end
- Firm is world’s biggest wireless infrastructure owner by sales
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China Tower Corp., the state-owned wireless infrastructure owner, raised $6.9 billion after pricing its Hong Kong initial public offering at the low end of a marketed range, people with knowledge of the matter said.
The Beijing-based company sold 43.1 billion shares at HK$1.26 apiece in the IPO, the people said, asking not to be identified because the information is private. The shares were marketed at HK$1.26 to HK$1.58 each, according to an earlier exchange filing.