Asian Pay Television Trust raises $1.1 billion from IPO

The Macquarie-sponsored business trust prices at a 2014 yield of 8.5% and allocates the great majority of the deal to cornerstones, anchors and long-only accounts in anticipation of a scale-back in favour of MIIF shareholders.
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APTT will have a single asset at the time of listing — cable-TV company Taiwan Broadband Communications
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<div style="text-align: left;"> APTT will have a single asset at the time of listing — cable-TV company Taiwan Broadband Communications </div>

Asian Pay Television Trust APTT has raised S$1.35 billion $1.1 billion from its initial public offering in Singapore after attracting solid demand and fixing the price above the mid-point of the range, at S$0.97.

APTT will have a single asset at the time of listing cable-TV company Taiwan Broadband Communications, which it is acquiring from two Macquarie funds and will be the first Singapore business trust to be backed by media assets.

This would have helped attract yield-focused investors looking to diversify their holdings. It also led to sizeable demand out of the US, which is home to a lot of specialist media funds.

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