NetLink Trust *Official* (SGX:CJLU)

Shion

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NetLink Trust to raise up to S$2.63 billion in July IPO; largest listing since HPH Trust

http://www.straitstimes.com/busines...n-in-july-ipo-largest-listing-since-hph-trust

SINGAPORE - Singtel's fibre broadband unit NetLink Trust has lodged a preliminary prospectus for a listing on the Singapore Exchange (SGX) mainboard, with plans to start trading on July 19.

The business trust expects to raise net proceeds of up to S$2.63 billion by issuing 2.9 billion units at between 80 Singapore cents and 93 Singapore cents per unit.

This would make it the biggest listing here since Hutchison Port Holdings Trust, which raised US$5.5 billion ($7 billion) in 2011.

Immediately after the initial public offering (IPO), NetLink Trust will have a market capitalisation of between S$3.09 billion (based on the 80 cents offer price) and S$3,593.5 million (based on the 93 cents offer price).

The size of the public and placement tranches has not yet been decided, but new SGX rules require mainboard aspirants to allocate at least 5 per cent or S$50 million of the IPO to the public tranche.

The public offer will open at 5pm on July 10 and close at noon on July 17.

The trust has forecast an annualised distribution yield of between 4.73 per cent to 5.50 per cent in 2018, depending on the IPO price.

NetLink Trust designs, builds, owns and operates the passive infrastructure for Singapore's Next Generation Nationwide Broadband Network (NextGen NBN), over which ultra-high-speed internet access is delivered throughout the island.

NetLink Trust's passive infrastructure comprises about 76,000 km of fibre optic cable, 16,200 km of ducts, and 62,000 manholes.

With this network, NetLink Trust is able to sell wholesale dark fibre services to Nucleus Connect, a StarHub subsidiary. Nucleus Connect manages the active infrastructure like switches and routers, and sells bandwidth connectivity to retail service providers (including Singtel, StarHub, M1 and MyRepublic) who sell the bandwidth with value-added services to end-users.

Singtel is the trust's sole unitholder.

Under rules laid down by the infocomm regulator requiring "structural separation", Singtel was forced to divest itself of more than 75 per cent of NetLink Trust before April next year. The original deadline was April 2014, but Singtel asked for an extension.

NetLink trust will be managed by NetLink NBN Management.

DBS, Morgan Stanley and UBS are the joint issue managers and joint global coordinators.

Morgan Stanley is the stabilising manager.
 

Mr.Canberra

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Just like Star Wars the empire clone drones.

This is Singtel's new baby. Buy and hold counter. Collect dividends. Calander marked 10-17/07/17 to press ATM.

Sole broadband infrastructure builder sure wwjbh. :s13:

DBS, Morgan Stanley and UBS huat until blc haha. :D
 
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Weaboo

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Just like Star Wars the empire clone drones.

This is Singtel's new baby. Buy and hold counter. Collect dividends. Calander marked 10-17/07/17 to press ATM.

Sole broadband infrastructure builder sure wwjbh. :s13:

DBS, Morgan Stanley and UBS huat until blc haha. :D

Can the gahmen break this up? Like invite overseas company to build another bb infra to compete? Or is sole monopoly?
 

tan1688

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50million shares divide by 1000shares means only 50000ppl can get 1000 shares each
Huat arh bread crumbs to the peasants, Cryonism ...
 

lzydata

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This would make it the biggest listing here since Hutchison Port Holdings Trust, which raised US$5.5 billion ($7 billion) in 2011.

Don't think many IPO subscribers had a good experience with HPH... :s22:
 

NewInvestor

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It is OK if priced at 80c and 5.5% yield. But if priced higher, may be better to buy after IPO.
 

opt1m4l

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NetLink Trust IPO

Private placement is available; take note of these indicative dates:

Books close: 12pm, 07 July, 2017 or subject to notification by the Bookrunners
Pricing & allocation: 10 July, 2017
MAS registration: 10 July, 2017
Singapore Public Offer: 10 – 17 July, 2017
Listing: 19 July, 2017
 
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