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Proposed Arcapita Bank $300 million IPO is temp...withdrawn. Due to....hmm
A prospectus lodged with the MAS did not include IPO pricing details, but said the firm will sell 878 million units in the offering.
Proceeds from the IPO would be used to buy stakes in the water utility and wind farm assets to be included in the trust, Arcapita said in the prospectus.
There would be a 2nd infrastructure trust to be listed this year after CitySpring Infrastructure
Trust. The listing could spark interest in CitySpring.
Bahrain-based investment firm Arcapita Bank plans to list an investment trust in Singapore that may raise around US$300 million and would comprise its UK-based water utility and wind farm assets, sources said on Tuesday.
Morgan Stanley and DBS Bank are underwriters for the IPO and its prospectus will be filed with the MAS this week, sources close to the deal told Reuters.
The trust would be named Arcapita Utility Trust, one of the sources said.