SingPost begins pre-marketing

After a few weeks hesitation, pre-marketing of a roughly $300 million IPO began in Singapore on Tuesday.

In what will represent only the second IPO from non-Japan Asia this year, SingPost has begun pre-marketing via joint leads DBS and UBS Warburg. The company is considered an ideal defensive equity story for the current environment with limited downside, an appealing dividend yield and high resilience to war torn markets. The main problem encountered so far is the ability of the lead managers and company to canvass investors face to face, with all pre-marketing currently being conducted by phone.

Under the present timetable, pre-marketing will finish at the end of next week and be followed by a week's breather when the leads will decide whether to press ahead. Roadshows are then...

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