Universal Terminal IPO likely to take form of stapled securities
Offering of hybrid units akin to those of CDL Hospitality Trust may take place before year-end to raise up to S$1b
Singapore
UNIVERSAL Terminal's impending initial public offering (IPO) on the Singapore Exchange could take place before year-end in the form of stapled securities to raise up to S$1 billion.
The Business Times understands that the hybrid form of units to be offered by the Singapore-based petroleum storage company is much like that of CDL Hospitality Trust, which comprises elements of a real estate investment trust (Reit) and those of a business trust.
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