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CVC-backed HKBN to price up to $750 mln IPO near the top-IFR

(Reuters) – HKBN Ltd, Hong Kong’s second-largest broadband Internet provider, is set to price an initial public offering worth up to $750 million near the upper half of its marketing range, IFR reported on Tuesday, citing sources familiar with the deal.

Private equity firm CVC Capital Partners and other HKBN shareholders are offering 645 million existing shares in an indicative range of HK$8 to HK$9 each. The deal is set to be priced on March 4, according to its IPO prospectus.

HKBN declined to comment on the IPO when contacted by Reuters.