If there was ever a question that 3G is a hot item in China these days, that was answered by the performance of the latest IPO on the Hong Kong Stock Exchange. China Communications Services nearly doubled its offer price on the first day of trading Friday.
Underwriters chose an optimal moment for the launch, during the International Telecommunication Union (ITU) conference being held this week in Hong Kong. CCS, a telecommunications network provider, soared 85% to close at $4.08 Hong Kong (52 U.S. cents), almost double its IPO price of $2.20 Hong Kong.[Full Text]
-Also read a series of 3G stories from CDT