Hutchison Port Holdings (HPH) Trust looks set to become Singapore’s largest ever IPO. The previous largest IPO was SingTel’s S$4 billion listing in 1993.
The subsidiary of Hong Kong tycoon Li Ka-shing’s Hutchison Whampoa plans to raise as much as S$7.3 billion (US$5.8 billion). The trust is listing here as Hong Kong regulations do not yet allow for such business trusts.
HPH offered nearly 3.9 billion units for the IPO. Out of these, 185.2 million units will be issued to the public. DBS Bank, Deutsche Bank AG and Goldman Sachs Singapore are the joint bookrunners and joint issue managers for the IPO.
The offer price ranges from US$0.91 and US$1.08 per unit. Investors subscribing for units under the public offer will need to pay S$1.383 per unit upfront. If the final offer price is less than US$1.08, they will get the appropriate …
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