CVC-backed HKBN plans up to $500 million HK IPO in first half of 2015 - IFR

Published 26/09/2014, 11:30
CVC-backed HKBN plans up to $500 million HK IPO in first half of 2015 - IFR
CVC
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HONG KONG (Reuters) - Hong Kong Broadband Network (HKBN), the second-largest broadband Internet provider in the city, plans an initial public offering of up to $500 million (306.34 million pounds) in the first half of 2015, IFR reported on Friday, citing people with direct knowledge of the plans.

HKBN, controlled by CVC Capital (CVC.UL) and a group of executives from the broadband provider, has invited banks to pitch on a role in the proposed IPO, with a deadline for proposals set for the end of next week, added IFR, a Thomson Reuters publication.

CVC didn't immediately return requests for comment on the HKBN IPO plans.

(Reporting by Fiona Lau of IFR; Additional reporting by Stephen Aldred in HONG KONG; Writing by Elzio Barreto; Editing by Ryan Woo)

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