NETLINK NBN Trust, which made its debut on the Singapore Exchange on Wednesday, opened flat at its inital public offering (IPO) price of S$0.81 on Thursday.
Over 184 million shares worth S$149 million were traded on Wednesday after the opening bell at 3 pm.
NetLink traded within the S$0.805 to S$0.815 range.
The closing price of S$0.81 on Wednesday means that the trust is valued at S$3.1 billion, giving an annualised distribution yield of 5.43 per cent for the forecast period from Aug 1, 2017 to March 31, 2018.
NetLink's IPO, which raised S$2.3 billion in gross proceeds, is the biggest in Singapore since 2011 when Hutchison Port Holdings Trust raised about S$7.7 billion in gross proceeds.
NetLink's revenue is projected to increase at a compound annual growth rate of 6.7 per cent from S$300 million in the 2017 fiscal year to S$341.9 million in 2019.
Distribution in 2019 is projected to be S$179.4 million.