Singtel's NetLink IPO set to price near low end at 81 cents, raising $2.3 bil: IFR

SINGAPORE (July 7): NetLink NBN Trust, the broadband unit of Singapore Telecommunications, is set to price its IPO near the bottom of expectations, raising about $2.3 billion in Singapore's largest listing in more than four years.

The offering is set to be priced at $0.81 per unit, Thomson Reuters publication IFR reported, citing two sources with knowledge of the transaction. The IPO had an indicative range of $0.80 to $0.93 per unit.

NetLink is offering 2.9 billion units in the IPO, which will be the biggest in Singapore since Mapletree Greater China Commercial Trust's US$2.06 billion ($2.85 bllion) listing in February 2013.

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