China Telecom: wrong number

Asia''s largest IPO of 2002 is delayed after institutions use their pricing leverage to push for a discount to book value.
October 31, 2002

China Telecom's 16.8 billion share offering failed to price on schedule yesterday (Thursday) after the order book closed just under 75% subscribed and roughly half the demand was generated by lower quality retail orders out of Hong Kong, the US and Japan.

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