China Unicom launches retail tranche of IPO

The Hong Kong public can begin subscribing today for shares in China Unicom, the mainland''s second-biggest telecom company, at a price range of HK$13.66 to HK$15.84.

China Unicom has set an indicative price range for shares in the Hong Kong public tranche of its global initial public offering at HK$13.66 to $15.84 and increased the range for the institutional tranche by 10% to between HK$13.80 and $16, reflecting stronger-than-expected demand from investors.

The retail tranche is part of a worldwide offering in which China's second biggest telecom company plans to list 2.46 billion shares, or 25% of the enlarged share capital excluding an overallotment option of 368,869,050 shares. The shares will be offered to investors in Hong Kong, Europe and the US. Overseas investors can choose to buy their shares in the form...

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