There is something pleasingly retro about the Hong Kong IPO of China Tower Corporation. Amid a tide of new technology listings, China Tower is strikingly tangible: it owns telecommunications towers, 1.8 million of them.
The deal, which seeks to raise up to $8.68 billion, has some other areas of significance too.
In another throwback, it is the largest state-owned float in Hong Kong since Agricultural Bank of China in 2010. It is a chance to put some zip back into the market after the mild disappointment of the Xiaomi listing, which raised $4.7
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