HKT Trust launches IPO of up to $1.4 billion

PCCW has decided to go ahead with the initial public offering of its telecommunications business through a trust and, as indicated earlier, has set a price range that offers investors a yield of up to 9%. In light of the feedback received during pre-marketing, it has decided to sell only 32% of HKT Trust at this time, however, or up to 35.1% if the greenshoe is exercised in full.