Netcom raises USD1.13 billion from IPO

18 Nov 2004

China Netcom has raised USD1.13 billion from its IPO – Asia’s biggest public flotation so far this year. Stocks closed at HKD9.25 (USD1.19), higher than the expected HKD8.4 (USD1.08). The IPO generated USD162 billion worth of orders from institutional investors, who were attracted by the promise of a 35%-40% dividend payout for fiscal 2004.

China, China Netcom