HKBN Group became a listed company on 12 March 2015 under a new Cayman Islands-incorporated holding company HKBN Ltd.; Hong Kong Broadband Network Limited was under listed company City Telecom (or known as CTI) until CTI sold Hong Kong Broadband Network Limited. In May 2012, private equity firm CVC Capital Partners, acquired the company for HK$4.9 billion. City Telecom (Hong Kong) was then renamed into Hong Kong Television Network. The current holding company of the group, HKBN Ltd., was incorporated on 26 November 2014.