GTI Trust IPO

Reliance seeks $1 billion from subsea cable unit spin-off

GTI Trust is selling 55% to 65% of its units to investors pre-shoe, and is offering a yield of up to 11.5%. Reliance Communications is retaining control of the remainder.

<div style="text-align: left;"> A ship lays a telecoms cable under the sea </div>

Anette Jönsson

July 10, 2012

India’s Reliance Communications is seeking to raise up to $1 billion from the listing of its subsea cable unit in Singapore, according to a source. The unit is listing as a business trust to reflect its utility-like cash flows and to enable it to pay higher dividends. It is scheduled to start trading on July 23.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.