Netcom to launch USD1.5 billion IPO in September

16 Jul 2004

China Netcom, the People’s Republic’s second largest fixed line operator, hopes to launch its USD1.5 billion IPO in Hong Kong and New York as early as September and is expected to file the necessary paperwork with the bourses within days. Over recent weeks China Netcom has been in talks with PCCW over investment in the group’s fixed line operations in Hong Kong, a process which could delay the IPO. However, it is believed that if a deal is reached, the purchase will be handled by China Netcom’s parent company, and not the listing arm.

China, Hong Kong, China Netcom, HKT (incl. CSL)