IPO

IPO: Hutchison Whampoa plans to spin off its ports assets in a Spore listing in late Feb or early Mar, which may raise at least US$3b. DBS, Deutsche Bank & Goldman Sachs are the joint bookrunners & issue managers for the global offering of Hutchison Port Holdings Mgt, whose principal assets include deep-water container port operations in HK & Guangdong province. The ports business accounts for 24% of the conglo’s net asset value.

If successful, Hutchison Whampoa's IPO of its port assets would be the biggest ever public offering in Spore, topping the IPO of SingTel, which raised around $4b in 1993. The IPO would also dwarf GLP' US$2.9b IPO in 2010.