(Yicai Global) April 3 -- China Tower Co. is preparing for a listing, with the goal of submitting its initial public offering application to the Hong Kong Exchanges and Clearing Limited (HKEX) within the year, National Business Daily has learned from two insiders.
“They are in full swing with listing preparations, and I believe some good news will come soon," said Shang Bing, chairman of China Mobile Ltd., at its performance meeting last year.
China Tower was formed by China Mobile, China United Network Communications Ltd. and China Telecom Corp. on July 18, 2014 with a registered capital of CNY10 billion (USD1.6 billion). It completed the acquisition of all the stock assets related to communications towers from these three telecom operators in October 2015 and further introduced China Reform Holdings Corp. as a new shareholder.
China Tower constructs, maintains and operates communications towers and other base station supporting facilities and indoor distribution systems. The company owns about 1.7 million towers, making it the world's largest communications infrastructure service provider.