Milbank, Tweed, Hadley & McCloy LLP advised NetLink NBN Trust on the IPO of NetLink NBO Trust. The trust sold 2.9 billion units, including 185 million units for public offer.
The approximately $2.3 billion (US$1.7 billion) offering on the Singapore Stock Exchange is the second-largest initial public offering in Asia this year and the largest IPO on the Singapore Exchange in recent years. NetLink developed, owns and operates the 76,000km fibre network serving the city-state, and is the sole provider of residential fibre network, under the government-led “Next Generation Nationwide Broadband Network” initiative.
Capital Markets partner Naomi Ishikawa led the Milbank team which included senior associate Jim McFarlane and associate Leroy Langeveld.
Ms. Ishikawa noted: “We are delighted to have advised on this offering and to be given the opportunity to assist NetLink and Singtel in such a landmark transaction.”
Milbank was recently named “Most Innovative US Law Firm in Asia” by IFLR, a reflection of its highly respected and industry-recognized Asia capital markets practice, which is also ranked band one in Singapore by Chambers Global.