PCCW raises more cash, this time by tapping the equity market

The telecom company sells $167 million of new shares barely a week after its $500 million bond offer. Meanwhile, GIC cashes in its remaining stake in Hong Kong-listed Ruinian.

PCCW, Hong Kong’s largest provider of telecom services, last night raised HK$1.3 billion $167 million from an upsized placement of new shares. The sale came less than a week after the company sold $500 million worth of 5.5-year bonds in its first foray into the international debt markets in five years.

Based on FinanceAsia records, it is even longer since the company tapped the equity markets, and observers noted that like the bond sale, last night’s trade...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition


  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...