Hong Kong-based conglomerate PCCW is looking to raise US$2bn from the listing of its telecoms units as a business trust, according to media reports.
Bloomberg also reported that PCCW had appointed China International Corp, Deutsche Bank and Goldman…
Hong Kong-based conglomerate PCCW is looking to raise US$2bn from the listing of its telecoms units as a business trust, according to media reports.
Bloomberg also reported that PCCW had appointed China International Corp, Deutsche Bank and Goldman Sachs to arrange the sale.
The report contrasts with previous commentary, suggesting that PCCW was looking to raise up to US$3bn, with Rothschild as its adviser.
PCCW announced that the Hong Kong Stock Exchange had said it could go ahead with the listing on 2 June.
A business trust combines elements of a company with those of a unit trust, and is operated through a trustee manager. Investors in such a trust hold units rather than shares.
