Acceleration Of IPOs

November 2004 | Market Strategy

Chinese companies look set to speed up initial public offerings (IPOs) overseas, following the highly successful launch of China Netcom, the country's second-largest fixed-line telephone company. Netcom is selling 16.2% of its enlarged share capital in a dual Hong Kong and New York listing, and it has already attracted several billion dollars worth of orders, having been fully subscribed on the second day of its roadshow. This has allowed the company to raise US$1.20bn. Assets in the package include networks in eight Chinese cities and provinces, as well as undersea cables. Aside from the attractiveness of Netcom itself, the desire

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