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NetLink IPO to raise between S$2.3b and S$2.7b, biggest on Singapore Exchange

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IN what is probably the biggest listing on the Singapore Exchange, Singapore Telecommunications (Singtel) owned NetLink Trust will issue a public offer for around 2.9 billion units with an offer price ranging between 80 Singapore cents and 93 Singapore cents to raise between S$2.3 billion and S$2.7 billion.

IN what is probably the biggest listing on the Singapore Exchange, Singapore Telecommunications (Singtel) owned NetLink Trust will issue a public offer for around 2.9 billion units with an offer price ranging between 80 Singapore cents and 93 Singapore cents to raise between S$2.3 billion and S$2.7 billion. The public offer will open after 5pm on July 10 and will close at 12 noon on July 17. Trading will commence from 3pm on July 19.

The IPO represents 75 per cent of NetLink Trust's total shareholding. The remaining 25 per cent will remain with Singtel who will also pocket the proceeds from the IPO. In case there is an over-subscription, additional shares could be offered.

According to the prospectus which was lodged on Tuesday, the expected DPU (distribution per unit) for 2018-2019 is to range between 4.73 per cent on the lower range and 5.8 per cent on the upper range.

sentifi.com

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