The world’s largest shipping container terminal operator – Hutchison Whampoa, is planning to raise $5.8 billion (£3.6 billion), through an IPO in the Singapore stock exchange.
Hutchison – which operates two of the world’s biggest shipping ports in Hong Kong and Shenzen, plans to list shares of Hutchison Port Holdings Trust (HPH Trust).
The Hong Kong based conglomerate is controlled by billionaire Li Ka-shing. If goes through, the float will be the biggest listing in Singapore’s markets.
“Given the size of HPH Trust, we expect the proposed IPO to attract significant investor interest”, said Sean Quek – analyst with Credit Suisse.
Investors who have already committed to pick up stakes in the IPO are US hedge fund Paulson and Co., Cathay Life Insurance, fund management company Capital Research & Management and Singapore’s Temasek Holdings.