PCCW targets institutions for HK$1.3bn equity placement

25 Aug 2010

PCCW raised HK$1.3bn ($167m) on Tuesday, selling the biggest equity offering in a week dominated by placements and secondary raisings amid a lack of initial public offerings.

It was the company’s first trip to the equity markets in seven years, and came quickly after it sold a $500m bond last week. PCCW went out with the aim of increasing institutional participation in the group’s shareholder base.

The telecommunications company announced plans on Monday to place 380m ...

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