SINGAPORE-MobileOne (M1), Singapore’s second-largest mobile operator, said it will seek an initial public offering (IPO) of its shares on the main board of the Singapore Exchange Securities Trading Limited in the fourth quarter. The company’s shareholders are in the final stages of appointing a global coordinator and manager for the proposed IPO.
M1’s shareholders, which include SPH Multimedia, Keppel Telecom and Great Eastern Telecommunications, have agreed that any share offering will be in respect of new and existing shares of M1 and will likely comprise more than 50 percent of the operator’s shareholding. The proposed IPO will likely involve a substantial global offering plus a domestic retail tranche.
