28 Feb '11, 10pm

Hutchison aims to raise Singapore's largest IPO - TODAYonline #business

SINGAPORE - Hutchison Port Holdings Trust aims to raise up to US$6.4 billion (S$8.1 billion) in an initial public offering (IPO) in Singapore, including an over-allotment option of about 15 per cent of the total number of units. If successful, the IPO would be the country's largest, topping the S$4 billion listing of SingTel in 1993. It could also surpass the total amount raised in IPOs here last year. According to Bloomberg data, IPO proceeds reached US$5.7 billion last year. In a prospectus filed with the Monetary Authority of Singapore, Hutchison said that it will sell up to 3.9 billion units of the business trust to institutional investors and the public. The offer price will range from between US$0.91 and US$1.08 per unit. Analysts say the IPO will likely be well received, notwithstanding some near-term volatility due to the ongoing political unrest in the Middle East...

Full article: http://www.todayonline.com/Business/EDC110301-0000228/Hut...

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