Citic Telecom plans rights issue to fund Macau acquisition

The Hong Kong-listed telecom services provider seeks to raise at least $235 million from the fully-underwritten deal.

<div style="text-align: left;"> CTM operates mobile, fixed-line and broadband services in Macau </div>

April 23, 2013

Citic Telecom International, a telecommunications services provider that is majority-owned by China’s Citic group, plans to raise at least HK$1.82 billion ($235 million) from a rights issue. The company has set the subscription price at a 26.8% discount to Friday’s close.

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