MELBOURNE, Australia-New mobile operator Hutchison Telecommunications (Australia) unveiled plans to release next year a CDMA mobile phone that charges users for calls made within a “local zone,” usually bounded by the home, at the flat-rate cost of a local call (about 20 Australian cents). Interstate and overseas calls will be charged at competitively timed rates. Outside the local zone, mobile rates will apply.
Hutchison Managing Director Barry Roberts-Thomson said the company is trying to target markets not already served by incumbent operators. “We’re offering a cost-efficient second or third line into homes,” Roberts-Thomson said. “Families want more than one line for Internet connection and data services, and this is a simple, inexpensive way.”
Before then, it must build its A$500 million (US$323.5 million) network, which will include Melbourne and Sydney. To assist in financing its construction, Hutchison made an initial public share offering, valuing the company at almost A$1 billion (US$647 million) on 17 August. Hutchison plans to raise about A$280 million (US$181.2 million) through the sale of 140 million shares at about A$2 (US$1.30) each.
Hutchison’s listing comes ahead of Telstra’s second share offer, which will sell a further 16.6 percent of the company, later this year.
