"Don't quote me on this, but tom.com has a big Li Ka-shing premium attached to it, " says one Hong Kong-based fund manager, who doesn't own the stock but wishes he did.

CNN: Playing the IPO Game

Although the Ka-band service's 4Mbps downstream and 1Mbps upstream speeds won't have anyone dropping their 330Mbps fiber anytime soon, the pay-as-you-go strategy will let travelers and rural dwellers get broadband in a pinch, no matter how spotty terrestrial access might get.

ENGADGET: Avanti launches prepaid, Ka-band satellite internet access, wants us Yelping from the Alps