
China Tower, which had been pitched as the world's largest IPO - and not just for telecoms, drew lacklustre investor enthusiasm this week as its shares began trading on the Hong Kong Exchange. Trading opened on Wednesday at the bottom of the forecasted range at HK$1.26 and closed at exactly the same price. This raised HK$54.3 billion (US$6.9 billion) for China Tower, funds that will be much needed for the very capital intensive undertaking of preparing...