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CVC-backed Hong Kong broadband firm set for flat open after $750 mln IPO
March 12, 2015 / 1:36 AM / 3 years ago

CVC-backed Hong Kong broadband firm set for flat open after $750 mln IPO

HONG KONG, March 12 (Reuters) - Shares in Hong Kong’s second-largest broadband Internet provider, HKBN Ltd, are set to open flat in their trading debut on Thursday following lukewarm demand from retail investors for the $750 million IPO.

Hong Kong’s biggest initial public offering (IPO) this year was priced at HK$9 each last week, the top of the HK$8 to HK$9 marketing range, with shareholders including private equity firms CVC Capital Partners, Carlyle Group and Singapore’s sovereign wealth fund GIC selling shares in the offer.

HKBN shares are indicated to open at HK$8.99, compared with the offer price of HK$9.00, while the benchmark Hang Seng index was indicated to open steady. (Reporting by Elzio Barreto and Denny Thomas; Editing by Stephen Coates)

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