CVC-backed HKBN plans up to $500 mln HK IPO in H2 2015-IFR

(Reuters) – Hong Kong Broadband Network (HKBN), the second-largest broadband Internet provider in the city, plans an initial public offering of up to $500 million in the first half of 2015, IFR reported on Friday, citing people with direct knowledge of the plans.

HKBN, controlled by CVC Capital and a group of executives from the broadband provider, has invited banks to pitch on a role in the proposed IPO, with a deadline for proposals set for the end of next week, added IFR, a Thomson Reuters publication.

CVC didn’t immediately return requests for comment on the HKBN IPO plans.