Taiwanese cable TV operator sets sights on Singapore listing

A TAIWANESE cable TV operator backed by Australia's Macquarie Group is planning a business trust public listing in Singapore late this month to raise as much as $1.4 billion.

According to a preliminary prospectus filed yesterday, Asian Pay Television Trust will be offering up to 942.6 million units at a maximum of $1 each.

Cornerstone investors, including Eastspring Investments, renowned investor George Soros' Quantum Partners, Asian Century Quest Capital, Lion Global Investors and Neuberger Berman, have already agreed to purchase about 451 million units.

Asian Pay Television is a trust formed to acquire its initial asset, the TBC Group, Taiwan's third-largest cable TV operator.

Join ST's Telegram channel and get the latest breaking news delivered to you.