Singtel gets nod from SGX for NetLink Trust listing

SINGTEL has received a conditional green light from Singapore's bourse operator to list its fibre broadband network provider NetLink Trust on the bourse's main board.

Announcing this in a Friday release after market close, it said that, with regards to Singtel's intention to take NetLink Trust public, the Singapore Exchange has on Friday "issued its conditional eligibility-to-list letter in relation to the listing on the mainboard".

The listing will be subject to, among other things, market conditions, the relevant regulatory and other approvals being obtained and the execution of definitive agreements by the relevant parties, said Singtel.

NetLink Trust designs, builds, owns and operates the passive infrastructure for Singapore's Next Generation Nationwide Broadband Network (NextGen NBN).

Singtel had in February said that it was preparing to take fully-owned unit NetLink Trust public. Singtel said that it plans to divest its stake in NetLink Trust to less than 25 per cent by April 22, 2018.

Share price of Singtel was up by 0.26 per cent to S$3.810 at Friday's close.