SP Ausnet powers towards IPO

The offer for Singapore Power''s Australian subsidiary is 75% sold a week ahead of final pricing.

A week before the institutional bookbuild closes for the listing of Singapore Power's Australian subsidiary, investors have already placed orders for 75% of the stock. The shares in SP Ausnet will be priced and allocated on December 7 and, as yet, Australian institutions have yet to indicate their interest.

The dual listing in Australia and Singapore has presented the joint lead managers with some interesting bookbuild dynamics. The normal practice for IPOs in Australia is...

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