Singtel's Netlink all set for up to $2.5b IPO

It hired 3 banks to serve as managers.

Singapore Telecommunications (SingTel) hired three banks to manage an initial public offering (IPO) of up to $2.5 billion for its broadband subsidiary NetLink Trust, IFR reported late on Thursday, citing people close to the deal.

Singtel, Southeast Asia's largest telco, tapped DBS Group, Morgan Stanley and UBS AG to handle the IPO, expected to take place in the second or third quarter of 2017, added IFR, a Thomson Reuters publication.

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