China Telecom's Int'l Tranche of IPO Fully Subscribed

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Last updated at: (Beijing Time) Friday, November 08, 2002

China Telecom's Int'l Tranche of IPO Fully Subscribed

China Telecom Corp said here Thursday that the international tranche of its initial public offering (IPO) had been fully subscribed. The price is set at 1.47 HK dollars.

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China Telecom Corp said here Thursday that the international tranche of its initial public offering (IPO) had been fully subscribed. The price is set at 1.47 HK dollars.

The fixed-line giant of the Chinese mainland relaunched its IPOhere Wednesday with its global offer size cut by about 55 percent to 7.56 billion shares.

The relaunch came a week following its original IPO, which received poor response from the international investors.

In the relaunch, the fixed-line giant of the Chinese mainland will issue 377.82 million H shares to Hong Kong investors, accounting for some 5 percent of the global offer size. The Hong Kong offering will close at noon next Monday.

Trading of its shares are due to begin on November 14 in New York and a day later in Hong Kong, a week behind its original schedule.

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