Universal IPO held back

Singapore’s Universal Terminal has reportedly postponed its business trust initial public offering (IPO) due to uncertain market conditions.

 

The IPO, which could raise up to US$762 million, is now targeted for some time before the Chinese New Year in February. The original offer date was 4 December and listing was targeted for 18 December.

 

Universal Terminal is owned by Singapore’s Hin Leong Group and PetroChina.