NetLink NBN Trust, a subsidiary of Singapore Telecommunications (Singtel Group) which is tasked with designing, building, owning and operating the country’s next generation broadband network (Next Gen NBN), launched a potential SGD2.69 billion (USD1.95 billion) IPO this week, the largest new listing in the city-state in more than four years. The company is looking to sell 2.9 billion units in an indicative price range of SGD0.80 to SGD0.93 each, according to a preliminary prospectus filed with the Monetary Authority of Singapore. The IPO is slated to be priced on 7 July 2017, with its debut on the Singapore stock exchange set for 19 July, according to a term sheet of the transaction seen by Thomson Reuters publication IFR. It is understood that NetLink intends to use a portion of the IPO proceeds to buy Singtel’s broadband assets, with up to SGD1.4 billion paid in cash and it will use 966 million units for the remainder of the amount due. NetLink will use another 40% of proceeds to repay a SGD1.1 billion loan owed to Singtel.