China mobile tower owner debuts in HK market after $6.9B IPO

HONG KONG — Shares in the state-owned monopoly that operates China's vast network of mobile phone towers are flat as the company makes its stock market debut in Hong Kong after raising $6.9 billion from investors.

China Tower Corp. was trading at 1.27 Hong Kong dollars (16.2 U.S. cents) per share at midday on Wednesday, little-changed from its initial public offering price of 1.26 Hong Kong dollars (16 U.S. cents).

China Tower says it operates 1.9 million cell tower sites across China, the biggest mobile phone market. It has given no indication of plans to expand abroad.

The IPO surpassed the $5.4 billion raised last month by Xiaomi Corp., the Chinese smartphone brand, in its Hong Kong debut.

Related News

China pledges further cuts in excess steel, coal...

Jan 10, 2017

China's top economic planner has pledged to continue cutting steel and coal production, which have...

Chinese delegation open to meeting Trump's team...

Jan 11, 2017

A Chinese official says President Xi Jinping's delegation to the World Economic Forum is open to...

China exports shrink as Trump trade tensions loom

Jan 13, 2017

China's exports fell back into contraction again last month, signaling renewed weakness for the...

China aircraft carrier capabilities tested on...

Jan 14, 2017

China's sole aircraft carrier has returned home following a three-week cruise during which its...

A look at how Trump might shake things up in Asia

Jan 16, 2017

Donald Trump has offered views on U.S. relations with Asia that could indicate radical shifts in...

Malaysia Air on rebound as missing flight search...

Jan 17, 2017

Nearly three years after twin disasters took it to the brink of financial collapse, Malaysia...

About Us

Daily World Web took the initiative to utilize the development in cloud and AI technology to create a free, instantaneous and borderless flow of news, the way it should be.

Contact us: sales[at]dailyworldweb.com

Subscribe Now!