China Satellite Communications is expecting to raise CNY1bn (1.28 billion yuan) from a planned Shanghai Stock Exchange listing later in 2019, in the latest move by a Chinese state organisation to raise private capital. It is owned by the state-run China Aerospace Science and Technology and already has a Hong Kong-listed division. The company, known as China Satcom, operates 16 satellites and said it planned to use the IPO proceeds to launch a second new-generation high-throughput satellite, which transfers data faster and more cheaply.
China Satellite Communications is expecting to raise CNY1bn ($150m) from a planned Shanghai Stock Exchange listing later in 2019, in the latest move by a Chinese state organisation to raise private capital. It is owned by the state-run China Aerospace Science and Technology and already has a Hong Kong-listed division. The company, known as China Satcom, operates 16 satellites and said it planned to use the IPO proceeds to launch a second new-generation high-throughput satellite, which transfers data faster and more cheaply.