RCOM sets price for Singapore IPO

9 Jul 2012

India’s Reliance Communications (RCOM) has set a price range for the upcoming initial public offer (IPO) in Singapore of its submarine cable arm, reports Reuters. RCOM plans to sell between 642.2 million and 757.6 million units at a price range of USD1.09 to USD1.32 per unit, hoping to raise between USD1 billion and USD1.5 billion as part of an effort to reduce its debt burden. The offer opens today and closes Monday 16 July.

India, Singapore, Reliance Communications (RCOM)