The Singapore Exchange will soon add a mega yield-generating stock after Singapore Telecommunications launched on Tuesday a S$2.3 billion to $2.7 billion $1.7 billion to $1.95 billion initial public offering for NetLink NBN Trust, its fully-owned owns passive infrastructure unit.
NetLink is set to surpass Keppel Infrastructure Trust as Singapore’s biggest infrastructure trust, solidifying the Lion City’s dominance as a regional hub for yield-generating assets.
The deal also marks the biggest divestment for SingTel in its history. The city’s biggest telecommunications firm is more often a buyer than a seller, having actively acquired stakes in overseas telecom companies to diversify away from...
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