Citic Telecom International, a subsidiary of conglomerate Citic Pacific, plans to embark on a US dollar-denominated bond issue to help finance its takeover of Macau’s main telecommunications network operator.

Shares of Citic Telecom rose 6.72 per cent to finish at a near six-year high of HK$ 2.86 yesterday. That was the stock’s highest close since it reached HK$ 2.91 on April 25, 2007.