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Taiwan cable trust tightens price range for $1.1 bln Singapore IPO-IFR
May 15, 2013 / 9:51 AM / in 4 years

Taiwan cable trust tightens price range for $1.1 bln Singapore IPO-IFR

May 15 (Reuters) - Asian Pay Television Trust (APTT), backed by funds linked to Australia’s Macquarie Group Ltd, has tightened the price range for its Singapore initial public offering which could raise around $1.1 billion, IFR reported.

The new price range is between S$0.97 to $1.00 per unit compared to an original guidance of S$0.92-S$1.00, indicating that the final price may be near the top end of the band, IFR said.

APTT, which used the business model structure for the deal, is betting on investor demand for high-yield securities to finance the purchase of Taiwan’s third largest cable TV operator.

APTT is selling 1.39 billion units in the IPO.

JPMorgan and Macquarie are the joint global coordinators for the offer and joint bookrunners alongside CIMB and DBS. (Reporting by Daniel Stanton of IFR and Saeed Azhar; editing by Miral Fahmy)

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