Singapore's third and smallest cellular operator raised S$457.7 million $271 million after pricing its IPO at the bottom end of its indicative range yesterday October 6. The 481.8 million share deal was priced at S$0.95 after being marketed at S$0.95 to S$1.15 by lead managers Credit Suisse First Boston and UBS.
The institutional order book is said to have closed two times covered at the bottom end of the range, with enough room to price the deal a couple of cents higher. However, the vendors are said to have agreed to leave some breathing space for secondary market trading.
Institutions were allocated 85.2% of the...
