Jan. 15, 2007 (China Knowledge) – Citic 1616, a telecoms subsidiary of Citic Pacific, is planning to be listed on the Hong Kong Stock Exchange in the second quarter of 2007.

BNP Paribas has been hired by the Hong Kong-listed Citic Pacific to arrange for the listing of Citic 1616, market sources told the South China Morning Post on Monday, adding that the deal could raise between US$100 million to US$150 million.

A wholesale provider of international direct dialing and short message services to other telecoms companies, Citic 1616 handled more than 3.1 billion minutes of IDD traffic at the end of 2005, with 60% originating from the Mainland. Customers include China Unicom as well as the leading mobile phone service provider China Mobile.