Hutchison Port Holdings Trust's $5.8 billion Singapore initial public offering has been oversubscribed and the institutional book will close a day ahead of schedule on Thursday, two sources with knowledge of the deal said, Reuters reports .
"This shows the demand is very strong," one of the sources told Reuters on Wednesday. "The book is closing tomorrow."
The port trust is a unit of Hong Kong tycoon Li Ka-shing's Hutchison Whampoa and is pursuing the multi-billion dollar listing to cash in on a recovery in global trade and provide investors with access to China's booming infrastructure business.
DBS , Deutsche and Goldman Sachs are the lead managers for the IPO, which could be Southeast Asia's biggest. The company was not available to comment, while the banks declined to comment.
"This shows the demand is very strong," one of the sources told Reuters on Wednesday. "The book is closing tomorrow."
The port trust is a unit of Hong Kong tycoon Li Ka-shing's Hutchison Whampoa and is pursuing the multi-billion dollar listing to cash in on a recovery in global trade and provide investors with access to China's booming infrastructure business.
DBS , Deutsche and Goldman Sachs are the lead managers for the IPO, which could be Southeast Asia's biggest. The company was not available to comment, while the banks declined to comment.