Pre-marketing has started for the upcoming initial public offering of part of Li Ka-shing-controlled Hutchison Whampoa’s container port assets which, at an expected size of about $6 billion, is promising to become the largest ever listing in Singapore. It is also the first multi-billion dollar IPO to hit the Asian markets this year, aside from Chinese aluminium producer China Hongqiao Group which called off its Hong Kong offering of up to $2.2 billion citing volatile market conditions.
Consequently, the Hutchison deal will be an important test for the market and the first real indication of whether 2011 has the potential of becoming as busy as last year. Since there is unlikely to be any...
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