China Tower Corporation, the world’s largest telecommunications tower group by revenue, has raised $6.9bn its initial public offering, the biggest amount garnered globally in a market debut since 2016.
The state-backed Beijing-based company, which controls about 97 per cent of the network that supports China’s mobile communications, has sold shares at HK$1.26 each, valuing the company at about HK$217bn ($27.6bn).
China Tower’s IPO is the largest since Postal Savings Bank of China, which raised $7.4bn when it listed in September 2016, according to data provider Dealogic.
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