Upcoming IPO: Switzerland-headquartered Mediterranean Shipping Company (MSC) is considering a Singapore listing for its global ports business, which could take the form of a corporate IPO or a business trust.
Deal size is estimated at ~$1b, but the transaction is at an early stage.
MSC is primarily a shipping company, but also owns and manages several ports.
BNP Paribas, CLSA and Deutsche have been mandated to manage the deal.
If successful, the MSC port listing will join HPH Trust as a listed Spore peer.
It may also spur NOL to consider monetising its port assets. Back in 2010, Morgan Stanley estimated NOL's seven 100% owned terminals to be valued at US$860m. However, thus far NOL mgt has not given indication of possibility of divesting its terminal assets.
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