<article><a href="https://www.dealstreetasia.com/?s=China+Tower">China Tower</a>, the world&#8217;s largest mobile mast operator, has won approval in Hong Kong for an IPO that could raise up to $10 billion, according to people familiar with the situation.</article>

<a href="https://www.dealstreetasia.com/?s=China+Tower">China Tower</a>, the world&#8217;s largest mobile mast operator, has won approval in Hong Kong for an IPO that could raise up to $10 billion, according to people familiar with the situation.
The news comes as investors and bankers were on Friday awaiting the pricing of Chinese smartphone maker Xiaomi&#8217;s initial public offering, which could raise up to $6.1 billion.
Xiaomi&#8217;s deal is seen as a key test of market sentiment for what is expected to be a packed second-half of the year in terms of IPOs in Hong Kong.
China Tower won approval from Hong Kong&#8217;s listing committee, an independent group of market participants convened by the Hong Kong exchange. The company could begin pre-marketing of the deal as soon as next week. Books could open as soon as July 9.
Timing will, however, depend somewhat on how well Xiaomi&#8217;s deal is received, sources said. Xiaomi is due to start trading on July 9.
China Tower did not immediately respond to a request for comment. Hong Kong Exchanges and Clearing &lt;0388.HK&gt; declined to comment on approval for China Tower&#8217;s IPO.
China Tower, formed by merging the mobile tower operations of China Mobile, China Telecom and China Unicom in 2014, is looking to raise between $8 billion and $10 billion.
At the top end, the deal would value the company at $40 billion and would also mark the world&#8217;s largest IPO since Alibaba set a record in 2014 with its $25 billion New York deal.
CICC and Goldman Sachs are the joint sponsors of China Tower&#8217;s IPO.
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Reuters

Timing will, however, depend somewhat on how well Xiaomi's IPO is received. Xiaomi is due to start trading on July 9.

China Tower gets go-ahead for Hong Kong IPO of up to $10 billion

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China Tower gets go-ahead for Hong Kong IPO of up to $10 billion

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