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Beijing Digital Telecom opens books for $153m HK listing
Beijing Digital Telecom opened books for its HK$1.18bn ($153m) Hong Kong IPO on June 25. With around 40% of shares already taken by cornerstone investors, the issuer is riding on the positive sentiment surrounding the company with its deal.
The telecommunications and mobile phone retailer is offering approximately 167m primary shares, or a 25% float, at a price guidance of HK$5.30-HK$7.10 per share. This translates to a 2014 estimated P/E multiple of 8.6-11.5 times, with a market capitalisation of HK$4.7bn if pricing comes at the top.
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