Hong Kong billionaire Li Ka-shing's Hutchison Port Holdings Trust has priced its Singapore initial public offering at $1.01 per unit, raising $5.5 billion , the company said on Monday, confirming an earlier report from Reuters.
The offering, the largest in Southeast Asia and the biggest in Asia so far this year, was priced at the middle of the indicative price range of $0.91-$1.08.
The port trust, a unit of Li's Hutchison Whampoa , 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.
Hutchison Whampoa will own 25 percent of Hutchison Port Holdings, which will start trading on March 18, it said.
BS , Deutsche Bank and Goldman Sachs are joint bookrunners and issue managers for the offering.
The offering, the largest in Southeast Asia and the biggest in Asia so far this year, was priced at the middle of the indicative price range of $0.91-$1.08.
The port trust, a unit of Li's Hutchison Whampoa , 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.
Hutchison Whampoa will own 25 percent of Hutchison Port Holdings, which will start trading on March 18, it said.
BS , Deutsche Bank and Goldman Sachs are joint bookrunners and issue managers for the offering.