NetLink Trust

NetLink Trust says most cables restored but admits some telcos still experiencing difficulties

SINGAPORE (Nov 15): NetLink Trust says in an update at 7.02pm on Friday that some telecoms service providers are still experiencing service difficulties although most of the damaged cables have been restored.

“As a result, the estimated time of full restoration has been revised to early tomorrow morning (November 16, 2018),” says NetLink Trust who adds that restoration works are ongoing.

Why investors should 'buy' Singtel in spite of rising competitive risks: RHB

SINGAPORE (Mar 15): RHB is reiterating its “buy” call on Singtel given its underperformance over the past year following its selldown.

RHB has also updated the target price to $4.10 to reflect a higher effective stake in Bharti Airtel.

The rerating comes after Singtel’s recent completion of its purchase of an additional 1.7% stake in Bharti Telecom for $539.4 million, which effectively raised its stake in the latter’s subsidiary Bharti Airtel to 39.5% from 38.6% previously.

Getting in on the IPO frenzy

SINGAPORE (Nov 24): There were 16 new listings in 2016 and 13 in 2015. And, as it is, the 15 IPOs that have already taken place this year raised more money than IPOs for both 2016 and 2015 combined.

The new listings this year also drew stronger subscription rates and garnered higher valuations, according to a study by Deloitte.

As at Nov 15, some $3.7 billion had been raised via IPOs. Only $2.3 billion was raised during the whole of 2016, and only $513 million in 2015. At their IPO prices, the 15 companies that listed by Nov 15 this year were valued at $6.56 billion.

Singtel 2Q earnings treble on NetLink divestment gains; declares special dividend of 3 cents/share

SINGAPORE (Nov 9): Singtel has announced earnings of $2.9 billion for the 2Q17 ended Sept, up threefold from $972.3 million in 2Q16 on gains from the divestment of 75.2% of its stake in NetLink Trust in July this year.

See: Singtel to divest majority stake in NetLink Trust to under 25%

This brings the telco’s earnings for the first half of the year to $3.8 billion, doubling from $1.9 billion in 1H17.

NetLink NBN Trust launches largest Singapore IPO in 6 years

SINGAPORE (July 11): Fibre network owner NetLink NBN Trust on Monday launched its $2.3 billion initial public offering (IPO), making it the largest new listing in Singapore since the US$5.5 billion ($7.6 billion) IPO of Hutchison Port Holdings Trust in 2011.

NetLink NBN Trust is offering nearly 2.9 billion units at 81 cents each – near the bottom of the initial pricing range of between 80 cents and 93 cents. Tong Yew Heng, CEO of the trustee manager, says he is satisfied with the price.

Singtel to divest majority stake in NetLink Trust to under 25%

SINGAPORE (July 10): Singtel announced Monday that it has entered into a unit purchase agreement with the trustee-manager of NetLink NBN Trust to divest its 100% stake in NetLink Trust on the listing date for an aggregate consideration of $1.9 billion.

This comprises a cash consideration of $1.1 billion, as well as consideration units constituting approximately 24.99% stake in NetLink NBN Trust, which was established primarily for the purpose of owning all of the units of NetLink Trust.

Singapore’s 2017 IPO activity to surpass that of 2016: PwC

SINGAPORE (July 3): The volume of IPO funds raised by end-2017 is expected to surpass 2016 levels with professional services leading the way as the sector with the most funds raised, according to PricewaterhouseCoopers (PwC) Singapore.  

Based on recent data from PwC’s Equity Capital Markets Watch: Singapore H1 2017 report, initial public offerings (IPOs) in Singapore have raised US$329 million ($452.5 million) in the first half of 2017 alone.  

NetLink Trust IPO one step closer to reality; Singtel receives SGX eligibility-to-list letter

SINGAPORE (June 2): The billion-dollar IPO of NetLink Trust looks to have taken a step closer to reality.

In a Friday night regulatory filing, Singtel announced that the Singapore Exchange has issued its conditional eligibility-to-list letter for the public listing of NetLink Trust on the Mainboard.

NetLink Trust designs, builds, owns and operates the passive infrastructure for Singapore’s Next Generation Nationwide Broadband Network (NextGen NBN).

Singtel kept at ‘add’ by CIMB given potential rerating catalyst

SINGAPORE (May 22): CIMB maintains its “add” call on Singtel with a target price of $4.10 given potential rerating catalyst of a special dividend after the IPO of NetLink Trust.

Singtel’s 4QFY17 core net profit rose by 0.8% y-o-y, came in line with analyst Foong Choong Chen’s forecast.

For the Singapore segment, 4QFY17 EBITDA was flat y-o-y, with Consumer EBITDA rising 4.9% y-o-y, Enterprise EBITDA easing 0.7% y-o-y and Digital Life’s negative EBITDA narrowing 7.5% y-o-y. Lower taxes and net interest cost led to core net profits rising by 16.6% y-o-y.

NetLink briefs analysts on $2 bil IPO as fees cut

SINGAPORE (May 11): NetLink Trust, the fibre broadband network provider backed by Singapore’s biggest phone company, started briefing analysts this week ahead of an initial public offering that could raise at least $2 billion, people with knowledge of the matter said.

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