not vested
May 29, 2017
China Tower invites banks to pitch for role in up to $10 billion HK IPO: IFR
HONG KONG (Reuters) - China Tower Corp, which owns and manages the mobile phone towers for China’s three state-owned telecom operators, has invited investment banks to pitch for a role in a Hong Kong IPO worth up to $10 billion, IFR reported on Monday.
The IPO would take place in late 2017 or early 2018, said IFR, a Thomson Reuters publication, citing people close to the deal.
China Unicom Hong Kong Ltd (0762.HK), China Mobile Ltd (0941.HK) and China Telecom Corp Ltd (0728.HK) formed China Tower in October 2015 , to save on infrastructure investment and cut management costs for their mobile phone towers.
The companies did not immediately reply to a Reuters request for comment on the China Tower IPO plans.
China Unicom’s 28.1 percent stake in China Tower accounts for about 46 percent of China Unicom’s market capitalization, valuing the mobile phone tower owner at $54 billion, IFR said, citing a Goldman Sachs report from April.
If China Tower were to sell a 10-20 percent stake in the IPO, the deal could raise between $5 billion and $10 billion.
Source: Reuters
https://www.reuters.com/article/us-chin ... SKBN18P07W