China Tower Corp, the world's largest in terms of revenue owner of cellular towers, has hosted the world's largest IPO in the last two years, CNBC reported. During the initial public offering of shares on the Hong Kong stock exchange, the company raised $6 billion 900 million. 43 billion 100 million new shares were sold at a price of 1.26 Hong Kong dollars per share. The market value of China Tower, based on the placement price, is estimated at about $28 billion. The company plans to allocate 60% of the funds raised for capital investments, including the construction of new ones and the improvement of old towers. To repay the debt, the company will use 30% of the funds, the remaining funds will be used for current expenses.
