Hutch listing delayed, despite waiver

28 Jun 2004

Hutchison Whampoa has been forced to delay its planned IPO of its telecoms subsidiary HTIL, despite being granted a waiver from the Hong Kong Stock Exchange. The bourse had agreed to overlook a rule which would have prevented the company from listing HTIL and spinning off one of its units (its Indian operations based out of Mumbai) in a separate listing within two years, but the IPO will nonetheless be delayed until at least September because Hutch failed to meet the 30 June deadline for the listing, meaning that it will have to resubmit accounts to the stock exchange.

Norway, Telia Norge