Hutchison ports IPO
Source: Agencies |
March 12, 2011, Saturday
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Print Edition
Print Edition
HONG Kong billionaire Li Ka-shing's Hutchison Port Holdings Trust is raising US$5.4 billion through a Singapore IPO, three sources said yesterday, in what will be southeast Asia's largest stock offer.
The IPO, also the largest in Asia so far this year, is a major boost for the Singapore Exchange, which has fallen well behind rival Hong Kong in recent years in attracting scores of multi-billion-dollar listings.
Despite the strong interest, the IPO did not meet the initial pricing expectation that would have raised US$5.8 billion, reflecting investors' anxiety about financial markets due to turmoil in the Middle East and rising inflationary pressures.
The IPO, also the largest in Asia so far this year, is a major boost for the Singapore Exchange, which has fallen well behind rival Hong Kong in recent years in attracting scores of multi-billion-dollar listings.
Despite the strong interest, the IPO did not meet the initial pricing expectation that would have raised US$5.8 billion, reflecting investors' anxiety about financial markets due to turmoil in the Middle East and rising inflationary pressures.
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