Starhub completes IPO

Flotation priced at bottom end of range but in line with rival operator M1.

Singapore's third and smallest cellular operator raised S$457.7 million $271 million after pricing its IPO at the bottom end of its indicative range yesterday October 6. The 481.8 million share deal was priced at S$0.95 after being marketed at S$0.95 to S$1.15 by lead managers Credit Suisse First Boston and UBS.

The institutional order book is said to have closed two times covered at the bottom end of the range, with enough room to price the deal a couple of cents higher. However, the vendors are said to have agreed to leave some breathing space for secondary market trading.

Institutions were allocated 85.2% of the...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

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 (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222