temasek-to-divest-utility-assets-through-business-trust

Temasek to divest utility assets through business trust

The high-profile sponsor and the potential for co-investments between the trust and Temasek should attract investor interest, observers believe.
Temasek will spin off its gas and water utilities assets into a business trust that it aims to list in the domestic market, the Singapore-based investment company said in a release yesterday.

The IPO will be jointly arranged by DBS and Morgan Stanley and is expected to raise about $150 million, sources familiar with the offering say. Pre-marketing started yesterday after the business trust lodged a preliminary prospectus with the Singapore authorities. The formal roadshow is expected to kick off towards the end of January and the trading debut should be able to take place before the Lunar New Year in mid-February, the sources say.

CitySpring Investment Trust will be the first business trust...
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