Hong Kong-based telecoms operator PCCW has not made any decision yet on a listing of its pay-TV unit, its chairman told Bloomberg.
Richard Li denied information reported earlier by the Sing Tao Daily. The Hong Kong newspaper reportedly wrote that PCCW…
Hong Kong-based telecoms operator PCCW has not made any decision yet on a listing of its pay-TV unit, its chairman told Bloomberg.
Richard Li denied information reported earlier by the Sing Tao Daily. The Hong Kong newspaper reportedly wrote that PCCW was mulling a listing of Now TV on the Growth Entreprise Market because it failed to meet the main board requirement of posting a net profit for three consecutive years.
The newspaper also reportedly said that Now TV’s assets are worth more than HK$1bn (US$129m).
A few weeks ago, a PCCW told the Hong Kong stock exchange that it would raise up to HK$1.3bn (US$167m) via a share sale to third-party investors. The funds will be used to repay existing debts and for general corporate purposes.
A spokeswoman for the company told TelecomFinance that the company does not comment on market speculation.
