Tower operator plans $8.7b blockbuster Hong Kong IPO

Mainland's telecommunications tower operator China Tower is looking to open the retail book for its HK$68.1 billion ($8.7 billion) IPO on Wednesday in Hong Kong.

With trading scheduled for Aug 8, 2018, the blockbuster flotation could be largest in Hong Kong since Agricultural Bank of China's HK$93.5 billion deal in 2010. It could become the biggest float globally in the nearly four years since Alibaba's $25 billion New York listing.

The State-owned conglomerate plans to sell 43.1 billion shares at HK$1.26 to HK$1.58 apiece, with a minimum investment of HK$3,191.84 for a board lot of 2,000 shares.