Singtel mulls up to $2b listing for broadband unit: sources

It will slash its stake in NetLink Trust.

Singapore Telecommunications plans to list its broadband unit on the local bourse in a deal that could raise about $2 billion, according to a report by Reuters.

Citing sources close to the matter, the report noted that Singtel intends to slash its stake in Netlink Trust by more than 75 percent. Singtel, whose largest shareholder is state investor Temasek Holdings, was given an April 2018 deadline by regulator Infocomm Development Authority to reduce its stake in NetLink Trust, which provides high-speed broadband network.

One source said Southeast Asia's largest telco is expected to appoint banks by the end of this year and the initial public offering of NetLink Trust could be launched in the second half of 2017.

Read the full report here.