Citic 1616 aims to raise $270 million in HK IPO

The Citic Pacific spin-off banks on increased tourism and new mobile subscribers to drive its earnings growth. Strong management cited as a plus.

Six years after it was taken over by Hong Kong-listed Citic Pacific, Citic 1616 Holdings is making a move to stand on its own feet again through a separate listing.

The company, which is aiming to raise up to HK$2.11 billion $270 million from an initial public offering in Hong Kong, is being marketed as a play on ChinaƆs growing cross-border telecom traffic and as such is yet another way for investors to buy into the increasing wealth among...

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