China Tower $8.7 billion IPO is part of China’s 5G rollout by 2020

China Tower is raising US$8.7 billion in an IPO tomorrow. China Tower announced plans to speed up the construction of 5G networks and keep costs down by making use of electric power companies’ transmission towers.

China Tower is more of 90% owned by China’s top three telecoms carriers – China Mobile, China Telecom and China Unicom. China Tower currently owns and operates a total of 2.5 million telecom towers.

China plans to implement a 5G network by 2020. China plans over 10,000 5G base station deployments by 2020.

China Mobile is rolling out 5G in five cities in 2018. China Mobile’s 5G trial network places over 500 total base stations across Guangzhou, Hangzhou, Shanghai, Suzhou, and Wuhan to provide outdoor 5G service. There will be smaller-scale, app-focused trials in 12 more cities, including Beijing and Shenzhen. Tthe cities are the widest 5G deployment announced by any carrier for 2018.