Singtel dismisses report of Optus listing; analyst says flotation of Aussie unit now not optimal

MAINBOARD-LISTED telco Singtel is looking to list its Australian subsidiary, Optus, through an initial public offering (IPO), according to news outlet The Australian on Monday (Jun 27).

Citing unnamed sources, it said Optus may be worth between A$8 billion (S$7.69 billion) and A$12 billion. Goldman Sachs and Morgan Stanley are reportedly involved in a plan for the telco’s IPO.

In a bourse filing, however, Singtel responded to the news to say it has no plans to list Optus through an IPO at the moment and that the report is “highly speculative”. It added that it will inform the market if there are any material developments of this nature.