Singapore MRT IPO price range S$0.54-S$0.62

Singapore MRT plans to raise S$250 million via an IPO of 375-500 million shares at S$0.54-S$0.62 each. The roadshow gets underway today and the deal will be priced on 17 July.

The 375-500 million shares on offer in the initial public offering IPO of Singapore MRT SMRT will be priced in the range of S$0.54-S$0.62 each, raising S$250 million $144 million for the company, says a banker involved in the deal. The shares represent 25%-30% of the company and will be sold in two tranches, with 60% of the shares on offer to be placed with institutional investors and the remaining 40% reserved for domestic retail investors, he adds. Of the retail tranche, a quarter, or 10% of the shares being sold, are reserved for employees of SMRT.

The suggested price range represents 10-11 times SMRT's expected earnings for the year to March...

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222