Hong Kong retail investors gave a lukewarm response to the US$1.2bn public offering of PCCW’s telecom businesses, HKT Trust and HKT Limited.
Originally, the company had planned to offer approximately 10% of the 2.05 billion available shares to…
Hong Kong retail investors gave a lukewarm response to the US$1.2bn public offering of PCCW’s telecom businesses, HKT Trust and HKT Limited.
Originally, the company had planned to offer approximately 10% of the 2.05 billion available shares to retail investors.
But in the filing to the Hong Kong Stock Exchange, the telecom trust said that the final number of units allocated to the Hong Kong public offering was 24.3 million, representing 1.2% of the total number of available units.
The unsubscribed shares were therefore re-allocated to the international tranche, which was, by comparison, “moderately oversubscribed”.
The trust is expected to start trading on 29 November.
