Singtel prepares for NetLink Trust IPO
Analysts peg IPO amount in the region of S$2.5 billion as telco readies to divest more than 75% of shareholding
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Singapore
SINGAPORE Telecommunications Ltd (Singtel) is preparing to divest more than 75 per cent of its 100 per cent shareholding in NetLink Trust (NLT), Singtel's CEO Chua Sock Koong said on Thursday.
The company has been mandated by Infocomm Media Development Authority to divest its shareholding in NLT to less then 25 per cent by April 2108. Singtel has appointed three investment bankers - reportedly Morgan Stanley, UBS Group and DBS - to advise it on the IPO.
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