SINGAPORE Power is planning simultaneous floats in Australia and Singapore to raise more than A$1 billion from its Victorian electricity distribution business, the Australian Financial Review reported this morning.
Singapore Power is expected to float its SP Ausnet business for more than A$1 billion.The Singapore government-owned Singapore Power is expected to keep a majority stake in the business, which will have a market value of more than A$2.5 billion, the newspaper said.
The Australian Financial Review did not cite its sources.
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