<article><a style="color: #000080;" href="https://www.dealstreetasia.com/tag/netlink-trust/">NetLink NBN Trust</a>, the broadband subsidiary of <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/singapore-telecommunications/">Singapore Telecommunications</a> (Singtel), launched an up to $1.95 billion IPO on Tuesday in the largest new listing in Singapore in more than four years.</article>

<a style="color: #000080;" href="https://www.dealstreetasia.com/tag/netlink-trust/">NetLink NBN Trust</a>, the broadband subsidiary of <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/singapore-telecommunications/">Singapore Telecommunications</a> (Singtel), launched an up to $1.95 billion IPO on Tuesday in the largest new listing in Singapore in more than four years.
NetLink is offering 2.9 billion units in an indicative price range of S$0.80 to S$0.93 each, putting the total issue at as much as S$2.69 billion ($1.95 billion), according to a preliminary prospectus filed with the <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/monetary-authority-of-singapore-mas/">Monetary Authority of Singapore</a>.
The IPO is slated to be priced on July 7, with its debut on the Singapore stock exchange set for July 19, according to a term sheet of the transaction seen by Thomson Reuters publication IFR.
The deal will be the biggest in Singapore since Mapletree Greater China Commercial Trust&#8217;s $2.06 billion IPO in February 2013.
NetLink will use a portion of the IPO proceeds to buy Singtel&#8217;s broadband assets, with up to S$1.4 billion paid in cash and it will use 966 million units for the remainder of the amount due. NetLink will use another 40 percent of proceeds to repay a S$1.1 billion loan owed to Singtel.
Singtel&#8217;s Group CEO Chua Sock Koong previously said the company wanted to reduce its stake in NetLink to less than 25 percent. It will own 24.99 percent of NetLink after the IPO.
DBS Group, Morgan Stanley and UBS AG were hired as joint global coordinators for the IPO, with Bank of America Merrill Lynch, Citigroup, HSBC, OCBC Bank and UOB also acting as joint bookrunners.
Fiona Lau of IFR and Aradhana Aravindan contributed to this story.
Also Read: <a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/singtel-hires-three-banks-for-share-sale-of-fiber-broadband-unit-64537/">Singapore Telecom hires three banks for broadband unit IPO</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/singapore-exchange-sgx-mohamed-nasser-ismail-73717/">Singapore Exchange IPO pipeline looks strong: Mohamed Nasser Ismail, SGX</a>
Reuters

NetLink NBN Trust, the broadband arm of Singtel, has launched an up to $1.95 billion IPO in the largest new listing in Singapore in more than 4 years.

Singtel's broadband arm NetLink Trust launches up to $1.95b IPO

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Singtel's broadband arm NetLink Trust launches up to $1.95b IPO

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