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Singapore Exchange (SGX) today welcomed NetLink NBN Trust to Mainboard under the stock code “CJLU”.
NetLink NBN Trust, a national broadband network (NBN) trust, is the largest fibre network infrastructure trust to list on SGX to-date. The company manages passive fibre network infrastructure and is the only such operator in Singapore, a nation that enjoys one of the highest average peak connection speeds in the world. Serving 82% of residential broadband subscribers, NetLink NBN Trust’s network provides a foundation of Singapore’s Next Generation NBN, through which ultra-high speed internet access is delivered across the country.
Mr Tong Yew Heng, Chief Executive Officer of NetLink NBN Trust, said, “We are delighted to have received such robust interest from both institutional and retail investors for our IPO. This is a strong vote of confidence in our unique investment proposition as the critical infrastructure to Singapore’s Next Generation Nationwide Broadband Network. Our business is resilient and offers investors a combination of stable and predictable distributions. We will leverage the digitalisation of Singapore’s economy and Smart Nation initiatives to grow in the residential, non-residential and non-building address point segments.”
Mr Loh Boon Chye, CEO, SGX, said, “We are pleased to welcome NetLink NBN Trust to our Mainboard. NetLink’s passive fibre network infrastructure forms the backbone, and spurs Singapore’s efforts to be one of the most digitally connected and competitive nations in the world. As high speed data consumption grows and our Smart Nation initiatives take shape, we are pleased that both institutional and retail investors now have the opportunity to invest in robust trust assets that are one of the key enablers to Singapore’s digital economy.”
With a market capitalisation of nearly S$3.2 billion, NetLink NBN Trust’s listing will boost SGX’s REITs and Business Trust cluster to a total of 50 listings, and bring the combined market capitalisation close to S$100 billion.
NetLink NBN Trust opened at S$0.81 today.
