SINGAPORE, July 7 (Reuters) - NetLink NBN Trust, the broadband unit of Singapore Telecommunications (Singtel), is set to price its initial public offering at S$0.81 per unit, IFR reported, citing two sources with knowledge of the transaction.
NetLink is offering 2.9 billion units in the IPO that is set to raise S$2.35 billion ($1.7 billion). The IPO had an indicative range of S$0.80 to S$0.93 per unit, reported IFR, a Thomson Reuters publication.
Singtel, Southeast Asia’s largest telco, did not immediately respond to an email seeking comment on the pricing.
$1 = 1.3822 Singapore dollars Reporting by S Anuradha of IFR; Writing by Aradhana Aravindan; Editing by Sherry Jacob-Phillips