China Unicom to Spin Off Technology Unit in Listing Rush
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China Unicom Hong Kong Ltd. is considering an initial public offering for its smart internet technology division in mainland China, following other state-owned mobile carriers in efforts to raise funds at home after being expelled from the New York stock exchange.
The potential spinoff of China Unicom Smart Connection Technology Ltd. is still pending approval by the board and shareholders, the company said in a statement on Thursday. The time and size of the offering will be determined later.