China Unicom to Get Listed in HK

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Wednesday, June 14, 2000, updated at 17:09(GMT+8)

Business

China Unicom to Get Listed in HK

China Unicom started to raise capital by floating shares in Hong Kong from June 13 to June 16.

Its stocks will be listed in the United States and Hong Kong respectively on June 21 and 22.

China Unicom will issue a total of 2.459 billion shares with the highest fund raised reaching HK$39 billion. It will issue over 122 million shares in Hong Kong, accounting for 5 percent of the total shares issued. The price of each share will increase from HK$11.5-14.5 to HK$13.66-15.84.

China Unicom indicated that HK$31.5 billion of the fund raised would be used to improve the cellular network and the cover network. Another HK$4.07 billion will be used to expand the inland optical fiber key transmission and data networks and develop internet services. The remaining funds will be spent on general business operation.


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	China Unicom started to raise capital by floating shares in Hong Kong from June 13 to June 16.




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