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GC Asia
PCCW targets institutions for HK$1.3bn equity placement
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 ...Please take a trial or subscribe to access this content.
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