The share sale would be among Singapore’s biggest offerings this year, after CapitaLand raised $2.8 billion selling shares in its CapitaMalls Asia. unit in November 2009. Other companies planning initial share sales include Mapletree Industrial Trust and Amtek Engineering.
The planned listing, which will result in new investors owning 12-20% of Mewah’s enlarged share capital, is scheduled for the fourth quarter of this year, the sources told Reuters.
The Singapore state-owned investment company, which manages about $172 billion of holdings, purchased preferred shares of Chesapeake with a 5.75% cumulative dividend and a conversion price of US$27 per common share, it said in an e-mailed statement today.
Recent unease over Cosco’s (F83.SG) latest contract cancellation, delay in vessel delivery has eased, with share price +0.8% at $1.24 vs $1.22 at midday on lunchbreak announcement company’s unit has secured contract worth over US$500 million ($697 million), its biggest in recent years, to build semi-submersible drilling rig for Sevan Drilling.
The 4.625% bonds were priced to yield 140 basis points more than similar-maturity US government debt, the data show. A basis point is 0.01 percentage point.
