Hong Kong communications provider PCCW could raise over HKD 10 billion from the proposed listing of its telecommunications business trust. PCCW will sell a 25 percent stake in the trust, which includes fixed-line, broadband internet, and mobile phone services, while the company will retain its pay-TV and computer services operations. PCCW may sell 36.7 percent of the units in the HKT Trust if the over-allotment option is exercised, increasing the proceeds by HKD 1.6 billion. PCCW plans to use the proceeds to pay off its debt. The company has now submitted the IPO prospectus to the stock exchange and expects to go ahead with the listing soon.
