©Business Monitor International
The planned initial public offering (IPO) of Taiwan-based Asian Pay Television Trust on the Singapore stock market has attracted at least nine foreign investors and cumulative investment of almost SGD451mn. With one third of the 1.44bn shares already allocated and at the top end of the price range, it is clear that the offering has the potential to become one of the biggest listings in Singapore in recent times. Besides putting the operator in a better financial position from which it can counter competitive threats, investors’ confidence reflects broader interest in Asian investment trusts and bodes well for future floatations, particularly in the real estate sector where data centre developers are based.
In a prospectus filed with the Monetary Authority of Singapore, Asian Pay Television identified its cornerstone investors as being Quantum Vehicle (a company controlled by financier George Soros), Eastspring Investments (a Prudential investment vehicle), hedge fund Och-Ziff Capital Management Group , Signature Global Advisors , Lion Global Investors Ltd , Indus Capital Partners , Capital Research and Management Company , Asian Century Quest Capital and Neuberger Berman .
Crowded Market
Taiwan Cable
TV Market Share, Q412