* IPO could raise between $1.2 bln and $1.4 bln – sources
* IPO to be first single investment trust in Hong Kong
* Units may be priced at 2012 yield of 7.5-8.9 pct -sources
By Elzio Barreto and Fiona Lau
HONG KONG, Nov 8 (Reuters) – Hong Kong’s PCCW Ltd plans to launch on Wednesday an up to $1.4 billion IPO for its telecoms business, two sources said, braving volatile global markets as the deal’s novelty and fixed-income like structure aim to lure yield-hungry investors.
The IPO could raise between $1.2 billion and $1.4 billion, two sources with direct knowledge of the plans told Reuters on Tuesday. The sources declined to be identified as they were not permitted to speak publicly on the matter.
It would be the biggest offering in Hong Kong since the $1.77 billion IPO by Citic Securities Co Ltd in September.