Reliance Comm unit extends bookbuilding for IPO-source

July 16 Mon Jul 16, 2012 12:07pm IST

Stocks

   

July 16 (Reuters) - The undersea cable unit of India's Reliance Communications has extended to Thursday the institutional bookbuilding period for its up to $1 billion Singapore business trust IPO, a source with direct knowledge of the matter said on Monday.

The institutional offer for GTI Trust opened on July 9 and was originally due to close on Monday, according to an indicative timeline in a term sheet.

The source, who declined to be identified, also said the trading debut for GTI Trust was now set for July 25. The earlier term sheet had set a trading debut date of July 23.

(Reporting by Tony Munroe, Saeed Azhar, and Devidutta Tripathy)

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