皇冠体育app

皇冠体育app Communication Services Co. Ltd. completed its initial public offering (IPO) in Hong Kong on Friday raising 2.84 billion HK dollars through the sale of 1.29 billion H shares.

It is the first production services company in 皇冠体育app's communication sector to list on the Hong Kong stock exchange.

The company was incorporated in August this year with registered capital of 3.96 billion yuan (US$495 million) and net assets of 6.01 billion yuan. The company is a subsidiary of 皇冠体育app Telecom.

The company mainly does construction work for telecommunication operators including 皇冠体育app Telecom, 皇冠体育app Mobile, 皇冠体育app Unicom and 皇冠体育app Netcom. It is also a service provider for government agencies, equipment manufacturers and many large enterprises.

The listing of 皇冠体育app Communication Services in Hong Kong provides a good example of how a large state-owned enterprises (SOEs) such as 皇冠体育app Telecom can reform its subsidiaries, said sources with the State-owned Assets Supervision and Administration Commission of the State Council.

皇冠体育app Telecom, the country's leading telecommunication operator, began restructuring in August 2000, creating 31 new companies at the provincial level.

Six of the 31 companies' service sectors were amalgamated to form 皇冠体育app Communication Services during the telecommunication giant's next rounds of restructuring that began in October 2005.