TELECOM & INTERNET | Staff Reporter, Singapore

Singtel's NetLink Trust launches $2.3b IPO

It will be at $0.81 per unit.

RHB reported that fibre network owner NetLink NBN Trust announced its initial public offering (IPO) price at $0.81 per unit.

The offering price values the market capitalisation of the trust at about $3.b. The $2.3b IPO is also the biggest in Singapore since 2011 when Hutchison Port Holdings Trust raised $7.6b, and the second largest IPO in Asia this year after the listing of Netmarble Games Corp in South Korea.

To recall, Singtel announced that it will sell its stake in NetLink Trust to NetLink NBN Trust, for about $1.878b, comprising a cash consideration of $1.095b and the 24.99% stake in NetLink NBN Trust.

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