Li's Hutchison Port said to raise $6.9 Billion in Singapore IPO

Li Ka-shing’s Hutchison Port Holdings Trust expects to raise US$5.4 billion (46.9 billion) in Southeast Asia’s biggest initial public offering, according to three people with knowledge of the transaction.

The company, which manages Chinese port assets for billionaire Li’s Hutchison Whampoa, plans to sell about 5.4 billion units in a trust at US$1.01 each, after offering them at 99 cents to US$1.03, said the people, who declined to be identified before an announcement.

The units were initially offered at 91 cents to US$1.08 each before the price range was narrowed. DBS Group Holdings, Deutsche Bank AG and Goldman Sachs Group Inc. are managing the sale.