Banks pitch to HKBN on proposed IPO

9 Oct 2014

Several banks have come forward seeking to advise private equity firm CVC Capital Partners on a proposed initial public offering (IPO) of its Hong Kong Broadband Network (HKBN) subsidiary, according to people with knowledge of the matter cited by the Wall Street Journal. The IPO, earmarked for Q1 2015 could raise anywhere between USD500 million and USD1 billion. CVC, which took over HKBN in 2012, is also currently in the process of raising around USD800 million from the sale of its stake in Indonesian broadband and cable TV operator, PT Link Net. The European equity house invested USD274 million in Link Net in 2011 before increasing its stake to 49%.

Hong Kong, Hong Kong Broadband Network (HKBN)