CPPIB invests $200 mln in IPO of PE-backed HKBN
Canada Pension Plan Investment Board (CPPIB) has confirmed earlier reports that it was a cornerstone investor in the initial public offering (IPO) of Hong Kong Broadband Network Ltd (HKBN), a residential broadband service provider based in Hong Kong. CPPIB acquired 172.4 million shares for US$200 million, giving it about 17 percent ownership in the company. Last week, HKBN priced the IPO to raise about US$750 million. Selling shareholders included the company's private equity backers: CVC Capital Partners, an affiliate of The Carlyle Group, and Singapore's sovereign wealth fund GIC. CVC bought HKBN in 2012.
12 March 2015•3 mins read
