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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials

Reliance Comm unit extends Singapore IPO bookbuilding again-IFR

Posted on 20 July 2012

Reliance Communications’ undersea cable unit has extended the bookbuilding period for its Singapore business trust IPO, worth up to $1 billion, until Friday, IFR reported. IFR said a sovereign fund from the Middle East and a Singapore-based institutional investor have shown a significant interest in the deal.
A source familiar with the process told Reuters that the company had received confirmation from four sovereign wealth funds to invest a total of more than $250 million in the IPO. Separately, Bloomberg cited three unnamed people with knowledge of the matter as saying Temasek and China Investment Corp had agreed to invest in the IPO………………………………………..Full Article: Source


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