Citic looks for backdoor listing

China International Trust and Investment Corporation (Citic) is seeking a backdoor listing in Hong Kong for its telecoms and broadband business on the mainland, Hong Kong Standard said, quoting ‘well-informed sources’. The company is considering taking over Terabit Access Technology as a vehicle for a listing and was expected to make a decision by the end of June. Citic was understood to have adopted this listing strategy because of the group’s intention to have different listed companies for each of its businesses.