INVESTORS WELCOME UNICOM'S LOW IPO
AsiaInfo Services, September, 2002
AsiaInfo Services 09-19-2002 Investors Welcome Unicom's Low IPO CHINA, Sep 19, 2002 (AsiaPort via COMTEX) -- China Unicom's lower-than-expected listing price won a warm welcome from domestic stock investors. Their positive attitude partly wiped away the gloomy atmosphere around the company's initial public offering (IPO). The country's second largest mobile carrier yesterday announced a share price of 2.3 yuan (28 US cents) for its pending IPO in the domestic stock market.
China Unicom will issue 5 billion shares and raise 11.5 billion yuan (US$1.4 billion) in the IPO. The announcement eased the anxiety of domestic investors, who were worried that China Unicom's IPO might dry up the domestic capital well. Earlier reports had said that China Unicom might...
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