Growth Enterprise Market candidate Capinfo plans to invest more than HK$100 million in the next three years to expand its Internet network coverage in Beijing.
The company wants to tap the Beijing municipal government's planned heavy expenditure on information technology prior to the 2008 Olympic Games in Beijing, according to the company's chief executive, Wang Xu.
Capinfo, which plans to raise between HK$300 million and HK$350 million by selling H shares on the second board, will spend about 40 per cent, or up to about HK$140 million of its proceeds, to expand the coverage and capacity of its Capital Public Information Platform or metropolitan area network (MAN).
Mr Wang, president and chief executive officer of the Internet solution provider, said the company planned to build a 'last mile' network that would provide 3,000 access points with which to connect to its MAN in Beijing.
The network expansion would allow Capinfo to provide the Beijing municipal government with better access and capacity, allowing it to communicate with different departments and citizens.
He said the Beijing municipal government was determined to advance the city's information system.
