Singtel Unit Launches Singapore's Biggest IPO in More Than Six Years

By P.R. Venkat Features Dow Jones Newswires

Singapore Telecommunications Ltd., will start taking orders from institutional investors for an initial public offering of its high-speed broadband unit that could raise as much as 2.7 billion Singapore dollars (US$1.95 billion), making it the largest such fund raising in more than six years.

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In a prospectus filed to the central bank, Singtel's unit, NetLink NBN Trust, is seeking to sell about 2.9 billion units at a price range of S$0.80 to S$0.93 per unit.

NetLink provides high-speed broadband service to residential and nonresidential customers in Singapore. An IPO of that size, if successful, would be the largest fund-raising in more than six years in the city-state, after Hutchison Port Holdings Trust's US$5.5 billion IPO in 2011.

Write to P.R. Venkat at venkat.pr@dowjones.com

(END) Dow Jones Newswires

June 27, 2017 05:31 ET (09:31 GMT)