HKT IPO

Bankers start pre-marketing PCCW's HKT Trust

Also vying for investor attention are Malaysia's Pavilion Reit and Chinese iron ore producer Zhong Da Mining, while New China Life Insurance and Xinyi Solar are both pushing on with their listing preparations.

Activity in the equity capital markets is a lot quieter than in the past couple of years at this time, but that doesn’t mean there is nothing on offer for investors. Last week saw a couple of Korean block trades and a convertible bond that together raised $1 billion, and four issuers announced rights offerings that are targeting a combined $3.6 billion over the next couple of months.

And, yesterday, bankers started pre-marketing for the upcoming IPO of HKT Trust, the telecommunications business that PCCW is spinning off. As reported earlier, the trust is aiming to reach a minimum market capitalisation of HK$28.6 billion $3.7 billion by selling between...

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