Reuters reports that Hong Kong’s PCCW plans to sell HKD1.3 billion (USD167 million) worth of new shares to third party investors, to raise capital to repay debt. The full-service telco intends to sell 500 million new shares, or 6.88% of its enlarged share capital, at HKD2.60 each, representing a 9.4% discount on Monday’s closing price. The company added that the placing offered a good opportunity to expand its institutional shareholder base. The move follows a USD500 million bond issue earlier in the month.