HKBN IPO launching with USD750m target

23 Feb 2015

Hong Kong Broadband Network (HKBN), Hong Kong’s second largest broadband internet provider by users, will launch its initial public offering (IPO) tomorrow (24 February 2015), with shareholders including UK-based private equity firm CVC Capital Partners looking to raise up to HKD5.8 billion (USD750 million), Reuters reported, citing sources familiar with the plans. CVC, HKBN’s management and other shareholders will offer 645 million existing shares in an indicative range of HKD8 to HKD9 each, valuing the total deal at up to HKD5.8 billion. HKBN will raise no funds from the IPO, which is set to be priced on 4 March.

Hong Kong, Hong Kong Broadband Network (HKBN)