Deals
Hyflux Suitor Utico Eyes S$500 Million Singapore IPO in 2 Years
- Valuation of utility firm will be at least S$2 billion: CEO
- Utico meeting with SGX about Utico’s listing, Menezes says
A Hyflux Ltd. plant in Singapore.
Source: Hyflux Ltd.
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United Arab Emirates-based utility Utico FZC plans to raise as much as S$500 million ($366 million) through a listing on the Singapore Exchange in the next two years, according to chief executive officer Richard Menezes.
“We are meeting SGX today for Utico’s listing and other matters,” Menezes told Bloomberg in Singapore on Thursday. The valuation of the company will be at least S$2 billion, he said.