Singapore’s largest IPO launched by Hutchison Port Holdings

Singapore’s largest IPO launched by Hutchison Port Holdings

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Asia Bizz: Hutchison Port Holdings has launched the single largest IPO in Singapore, a financial move taken by the company to raise S$7.3 billion. This shall now cross the highest IPO record set by SingTel which was worth S$4 billion in the year 1993. According to analysts, 3.9 billion units of the offerings shall be issued as IPO and the rest as public offerings.

Offer prices shall range between US$0.91 and US$1.08 per unit, which is quite favourable. Analysts have also agreed the prices of the offered units have been fairly evaluated. The company belongs to the Hong Kong-based business tycoon Li Ka-shing.

Reports also clarify that 95% of the company’s assets are at the ports of Hong Kong and Shenzhen. If the trust officially implies Distribution per Unit (DPU), then it shall range between 5.5% and 6.5% for the year 2011 and 6.1% and 7.2% for the year 2012. The public offering commenced on the 7th of March and will close on the 14th of March.