GIC, CVC and Carlyle raise US$710 million after HK internet provider prices IPO at top of range

HONG KONG (Reuters) - Private equity firm CVC Capital Partners, a unit of Carlyle Group LP and Singapore's sovereign wealth fund GIC raised a combined US$710 million (S$971.46 million) after Hong Kong's second-largest broadband Internet provider, HKBN, priced its initial public offering at the top of expectations, IFR reported on Thursday citing people familiar with the deal.

The IPO was priced at HK$9 per share, at the top of the HK$8 to HK$9 marketing range, according to IFR, a Thomson Reuters publication.

CVC, GIC and Carlyle's AlpInvest Partners were among HKBN shareholders offering 645 million existing shares in the IPO. HKBN, previously known as Hong Kong Broadband Network, raised no funds from the offering.

HKBN didn't immediately reply to a Reuters request for comment on the IPO pricing. CVC, Carlyle and GIC didn't respond to requests for comments on the IPO.

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