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For those interested to participate in this exercise, please email the required information stated below:
1. TR code:
2. Client code:
3. Client name:
4. Indicative demand [ units ] :
5. Offering price: S$0.80 to S$0.93 per unit
1) Book building exercise is scheduled to close on the 7 July 2017 (Friday), at 12 pm.
2) To avoid duplicate order, please email your order once only.
3) IOI must be reflective of the clients’ true demand. No withdrawals or amendments to the IOIs will be permitted after the book is closed.
4) 1% brokerage plus GST is chargeable for allocable demand.
5) Allocation result will be communicated via email after the prospectus is registered with MAS.
ISSUER : NetLink NBN Trust (“NLT”)
TRUSTEE-MANAGER: NetLink NBN Management Pte. Ltd.
SINGTEL STAKE POST IPO: 24.99% before exercise of over-allotment option
LISTING : Mainboard of SGX-ST
LISTING CURRENCY: SGD
KEY INVESTMENT HIGHLIGHTS:
More detailed information on NLT business description can be found in the preliminary prospectus lodged with MAS dated 27 June 2017
· Resilient business model with transparent, predictable and regulated revenue stream
· Sole nationwide provider of residential fibre network in Singapore, an attractive market with high demand for fibre broadband services
· Well positioned to benefit from growth in the non-residential segment as the independent nationwide network provider
· Well positioned to capitalise on growth in connected services including Singapore’s Smart Nation initiatives
· Extensive nationwide network affording natural barrier to entry
· Highly scalable operations and credit strength support unitholder returns
· Experienced management team with proven track record
· Joint Global Coordinators and Issue Managers: DBS, Morgan Stanley and UBS
· Joint Bookrunners and Underwriters: DBS, Morgan Stanley, UBS, BAML, Citi, HSBC, OCBC and UOB
OFFERING PRICE RANGE: S$0.80 – S$0.93 per Unit
BASE OFFERING SIZE OF 2,898,000,001 units (appx $2,318.4m to $2,695.1m):
· Over-allotment option (OA) of up to approx. S$100m: approx. 107.5m units to 125m units
TOTAL UNITS OUTSTANDING, POST OFFERING (ASSUME FULL OA OPTION EXERCISED): 3,971.5m units to 3,989m units
FORECAST DISTRIBUTION YIELD
· FP2018E: 4.73% to 5.50% (annualized);
· FY2019E: 4.99% to 5.80%
All distributions are exempt from Singapore tax for all investors
MARKET CAPITALISATION (BASED ON OFFERING PRICE RANGE): S$3,091.2m – S$3,593.5m
LOCK-UP: 6 months (from Listing Date) lock-up for the Trustee-Manager, Singtel and HoldCo
USE OF PROCEEDS:
· Repayment of the principal amount of S$1,100,000,000 due and owing under the facility agreement with Singtel;
· Funding the consideration for the purchase by the Trust Group of approximately 27,000 lead-in ducts from Singtel;
· Funding the consideration for (a) the purchase by the Trust of the shares of NLT Trustee and (b) the purchase by Unitholders of beneficial interests in the Trustee-Manager;
· Payment of the equity issue expenses and other costs
· If the over-allotment option is exercised in full, the additional proceeds may be used for capital expenditure and general corporate purposes
· Books close: 12pm, 07 July, 2017 or subject to notification by the Bookrunners
· Pricing & allocation: 10 July, 2017
· MAS registration: 10 July, 2017
· Singapore Public Offer: 10 – 17 July, 2017
· Listing: 19 July, 2017 at [3PM]
SELLING RESTRICTIONS: Regulation S, Cat 1.
END PLACEE BROKERAGE: 1.0% & applicable GST payable by all investors in the Placement Tranche
MULTIPLE APPLICATIONS: Multiple applications are allowed between the Placement and Public Offer Tranches
Quite a few readers have been asking me whether I am going to have another session (or two) of “Evening with AK and friends” this year.
Yes, I know. AK has been so lazy this year. Lazier than last year.
Bad AK! Bad AK!
Well, I am not sure if I…
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The rubber glove is an indispensable item in today’s healthcare industry and global demand has risen steadily. In 2005, we consumed 110 billion pieces of rubber gloves. By 2016, the amount increased to 190 billion pieces. This is due to the rising demand for better healthcare and hygiene standards as a result of a growing […]
The post 12 things you need to know about Top Glove Corporation before you invest appeared first on The Fifth Person.
1.57 million Singaporeans will be receiving GST Vouchers and Medisave Top-Ups. Find out if you will be one of them.
The post How Much In GST Vouchers Will I Be Getting In 2017? appeared first on DollarsAndSense.sg.
Dear readers, the fundamentals of the companies which we invest in are especially important. In this post, we look at stocks with a 10% growth in revenue growth in not only the recent fiscal year, but for the preceding three years and five years period each. Not only that, we want only stocks with a debt-to-equity ratio of less than 20% and a Return-on-Equity of more than 10%. What are these six stocks? Without further ado, these six stocks are: Read more »