NetLink expected to raise $1.7B in IPO - Mobile World Live

NetLink expected to raise $1.7B in IPO

10 JUL 2017

NetLink Trust, Singtel’s fibre broadband network subsidiary, will raise an estimated $1.7 billion from an IPO next week, making it the largest listing in the city-state in more than four years, Reuters reported.

The IPO, scheduled to debut on the Singapore stock exchange on 19 July, is expected to be priced at SGD0.81 ($0.59) per unit, which is near the bottom of expectations, Thomson Reuters said in a report.

Singtel, Singapore’s largest mobile operator with a 49 per market share, will have a 25 per cent stake in NetLink after the IPO, which will offer 2.9 billion shares.

The operator in early June secured conditional approval from the Singapore Exchange (SGX) to list NetLink, which owns and operates the passive infrastructure for Singapore’s Next Generation Nationwide Broadband Network (NextGen NBN).

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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