SINGAPORE, June 11 (UPI) -- Singapore's loss-making telecom group StarHub could launch its much-awaited initial public offering as early as July, The Business Times reported Friday.
Quoting unnamed sources, the paper said the company, estimated to be worth $1.4-$1.75 billion, could raise up to $400 million.
This would make its issue the biggest since Singapore Post's $400 million IPO last May and rival telecom MobileOne's $445 million IPO in December 2002.
StarHub's major shareholders include Singapore Press Holdings, Singapore Technologies Telemedia, Japan's NTT and British Telecom. While the group has a loss-making cable business, its mobile operations are profitable.
The company is expected to turn profitable overall in the latter part of this year.
