Hutchison to go public on Singapore exchange
The parent company of global terminal operator Hutchison Port Holdings has indicated it plans a $6 billion public share offering of some of its port assets in Singapore, according to international media reports.
Hong Kong-based Hutchison Whampoa would spin off part of its ports business into a new entity, Hutchison Port Holdings Trust, listed on the Singapore Stock Exchange, according to a notice filed with the Hong Kong Stock Exchange.
The Wall Street Journal said the initial public offering could happen from February to April and would be the biggest ever IPO on Singapore’s exchange, surpassing the $3.1 billion raised in 1993 when Singapore Telecom went public.
The WSJ report said Hutchison might initially only roll its deepwater port assets in Hong Kong and China’s Guangdong province into the trust.
Analysts suggested the IPO may net less than $6 billion due to the fact that growth rates in the port industry aren’t high enough to lure such investment.
Hutchison to go public on Singapore exchange
