HKT Trust launches IPO of up to $1.4 billion

PCCW is aiming to sell 32% of the trust pre-shoe and is offering a yield between 7.6% and 9%.

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.

Based on a price range of...

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