Hutch Telecom begins pre-marketing

IPO now looks likely to raise around $1.2 billion to $1.5 billion.

Pre-marketing begins today September 6 for the dual Hong Kong and New York Stock Exchange listing of a selection of Hutchison Whampoa's telecommunication assets.

The syndicate has assigned an average fair value of $5 billion to the listing vehicle, which contains the Hong Kong conglomerate's 2G and 3G assets in Hong Kong, India, Thailand, Israel, Sri Lanka, Paraguay, Ghana and Macau. This figure is nearly 20% lower than the $6 billion initially targeted by Hutch, but...

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