Chinese mobile phone tower operator plans $8.7B IPO

July 24, 2018

The state-owned monopoly that operates China's vast network of mobile phone towers plans to raise up to $8.7 billion in the biggest global stock offering in four years.

China Tower Corp. said Tuesday it plans to use 60 percent of the money for investment in its operations and gave no indication it plans to expand outside its home mainland China market.

If the company raises the total forecast, the would be the biggest since Alibaba Group, the Chinese e-commerce giant, raised $25 billion in 2014.

Explore further: Foxconn unit to raise $4.2bn in China IPO

Related Stories

Foxconn unit to raise $4.2bn in China IPO

May 23, 2018

A unit of electronics manufacturing giant Foxconn said it will launch an initial public offering in China on Thursday aimed at raising $4.2 billion, in the biggest mainland debut for three years.

Xiaomi seeks to raise up to $6 billion in Hong Kong IPO

June 23, 2018

Chinese smartphone maker Xiaomi Corp. plans to raise up to $6 billion in one of the biggest global stock market debuts in recent years as it tries to become a worldwide hardware-and-services brand alongside Apple, Google ...

China's Xiaomi announces pioneering listing plan

June 11, 2018

Smartphone maker Xiaomi on Monday became the first Chinese company to announce plans to issue securities on mainland China markets under a trial programme aimed at encouraging the country's tech giants to list at home.

Alibaba IPO to boost employee fortunes to $8 bn

September 19, 2014

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Recommended for you

Meteorite source in asteroid belt not a single debris field

February 17, 2019

A new study published online in Meteoritics and Planetary Science finds that our most common meteorites, those known as L chondrites, come from at least two different debris fields in the asteroid belt. The belt contains ...

Diagnosing 'art acne' in Georgia O'Keeffe's paintings

February 17, 2019

Even Georgia O'Keeffe noticed the pin-sized blisters bubbling on the surface of her paintings. For decades, conservationists and scholars assumed these tiny protrusions were grains of sand, kicked up from the New Mexico desert ...

Archaeologists discover Incan tomb in Peru

February 16, 2019

Peruvian archaeologists discovered an Incan tomb in the north of the country where an elite member of the pre-Columbian empire was buried, one of the investigators announced Friday.

Where is the universe hiding its missing mass?

February 15, 2019

Astronomers have spent decades looking for something that sounds like it would be hard to miss: about a third of the "normal" matter in the Universe. New results from NASA's Chandra X-ray Observatory may have helped them ...

What rising seas mean for local economies

February 15, 2019

Impacts from climate change are not always easy to see. But for many local businesses in coastal communities across the United States, the evidence is right outside their doors—or in their parking lots.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.