SINGAPORE: Singapore Telecommunications Ltd (SingTel) is pushing ahead with the public sale of its postal service unit for as much as S$684mil amid market gloom spread by the deadly Severe Acute Respiratory Syndrome (SARS) virus.
The initial public offering (IPO) of Singapore Post Ltd (SingPost) is the first major deal since the outbreak of SARS in the city-state. But fund managers are generally upbeat about the deal’s prospects, saying it should attract investors looking for high-yield, defensive stocks.
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