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China Tower Corp, the world's largest in terms of revenue owner of cellular towers, has hosted the world's largest IPO in the last two years, CNBC reported. During the initial public offering of shares on the Hong Kong stock exchange, the company raised $6 billion 900 million. 43 billion 100 million new shares were sold at a price of 1.26 Hong Kong dollars per share. The market value of China Tower, based on the placement price, is estimated at about $28 billion. The company plans to allocate 60% of the funds raised for capital investments, including the construction of new ones and the improvement of old towers. To repay the debt, the company will use 30% of the funds, the remaining funds will be used for current expenses.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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