Reuters reports that an initial public offering (IPO) of shares in Hong Kong’s second-largest broadband network operator HKBN has raised a total of around USD750 million after being priced at the top of expectations, HKD9 (USD1.16) per share, according to people familiar with the deal. Private equity firm CVC Capital Partners (a unit of Carlyle Group and Singapore’s sovereign wealth fund GIC) raised USD626 million from the IPO after slashing its HKBN stake to about 14% from 68% previously, while Carlyle’s AlpInvest raised USD72 million and GIC USD11.5 million. A group of HKBN employees sold shares for USD32 million, while HKBN CEO William Yeung will receive USD7.4 million from the sale of part of his stake in the IPO, from which HKBN itself received no funds. No new shares were offered in the sale. CVC bought HKBN in May 2012 for around USD628 million before selling a USD40 million stake to GIC and a USD29 million tranche to AlpInvest.