Hutch Telecom begins pre-marketing

IPO now looks likely to raise around $1.2 billion to $1.5 billion.

Pre-marketing begins today September 6 for the dual Hong Kong and New York Stock Exchange listing of a selection of Hutchison Whampoa's telecommunication assets.

The syndicate has assigned an average fair value of $5 billion to the listing vehicle, which contains the Hong Kong conglomerate's 2G and 3G assets in Hong Kong, India, Thailand, Israel, Sri Lanka, Paraguay, Ghana and Macau. This figure is nearly 20% lower than the $6 billion initially targeted by Hutch, but is, nevertheless, still considered punchy by a number of outside observers.

Lead manager Goldman Sachs is keeping the exact percentage of issued share capital as flexible as possible given that market...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222