The Singapore government's investment arm, Temasek Holdings, hasábeen hearing sales pitches from seven investment banks bidding for the lead manager role in the planned privatisation of PSA Corp, the holding company for Port of Singapore Authority. The privatisation is the biggest in the pipeline in Singapore, with reports suggesting around $2 billion will be raised.
Could be a top 5 company
Anáhistorical priceearnings ratio of 15 times -ádescribed as conservative in a recent Straits Times report - would value PSA at almost $7 billion and makeáitáthe fifth biggest company ináSingapore by market capitalisation after Singapore Telecom, DBS Group, Chartered Semiconductor and Singapore Airlines.
The seven investment banks pitching...