China Unicom raises pricing range

China Unicom will tell potential investors tomorrow (Monday June 12) that it will raise the pricing range of its upcoming IPO.

China Unicom and Morgan Stanley Dean Witter - bookrunners of Unicom's upcoming IPO - have decided to raise the indictaive pricing range for Unicom's pending IPO. The decision was made at around 8pm New York time on Friday June 9.

The range has been increased from HK$11.50 - HK$14.50 to HK$13.80 - HK$16.00 - an increase of just over 10%. Theáraised range comes at the end of a very successful US leg of the global roadshow. With the team now in London ready to meet European investors, the book is already said to be 1.4 times subscribed.

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