Netcom IPO 'five times oversubscribed'

China Netcom's IPO was five-times oversubscribed before its promotional roadshow even arrives in the United States, the China Daily cited sources as saying. The IPO, the largest telecoms offering in Asia this year, was officially launched in Hong Kong on November 4. China Netcom is selling a total of 1.046 billion shares at a price per share of US$1-1.15. The shares are set to begin trading in New York on November 16 and November 17 in Hong Kong. In the run up to the IPO the company is drumming up investor interest with roadshows in Asia, Europe and North America.