HONG KONG: Shares of PCCW Ltd, Hong Kong's dominant fixed-line telephone operator, fell more than 10 percent on Tuesday morning, Aug 24 after the company priced an offering of new shares at a discount.
The company said it would sell HK$1.3 billion (US$167 million) worth of new shares to cut debt.
The issue price of HK$2.60 represents a discount of 9.4 percent to the Monday closing price. Morgan Stanley is handling the placement. - Reuters
The company said it would sell HK$1.3 billion (US$167 million) worth of new shares to cut debt.
The issue price of HK$2.60 represents a discount of 9.4 percent to the Monday closing price. Morgan Stanley is handling the placement. - Reuters
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