SINGAPORE-Singapore mobile carrier StarHub Ltd. announced an initial public offering of 481.8 million shares at a maximum offering price of 68 cents each, in conjunction with its proposed listing on the Singapore stock exchange.
Because all the shares are being offered by its shareholders, StarHub will not receive any of the proceeds from the IPO.
The offering consists of an international placement to investors, including institutional and other investors in Singapore, as well as an offering to the public in Singapore, which includes up to 16.8 million reserved shares.
The shares represent 22.8 percent of StarHub’s issued share capital and are being offered by some of StarHub’s current shareholders. NTT Investment Singapore Pte. Ltd. is offering 81.9 million shares, MediaCorp Pte. Ltd. is offering 800,000 shares, BT (Netherlands) Holdings B.V. is offering 228.7 million shares and Singapore Press Holdings Ltd. is offering 170.4 million shares. In connection with the offering, the joint global coordinators of the offering will be granted an over-allotment option by the shareholders of up to an additional 15 percent of the shares offered in the IPO. Credit Suisse First Boston (Singapore) Ltd. and UBS AG are the joint global coordinators, bookrunners and lead managers for the offering.
