Netcom applies for IPO

29 Jul 2004

China’s second largest fixed line operator, China Netcom, is preparing for an initial public offering (IPO) from which it hopes to raise USD1.5 billion. The operator has applied to list its shares in New York and Hong Kong, and has said that the IPO will take place in September. It said it expects to post a net loss of CNY11 billion (USD1.3 billion) this year.

China, China Netcom