Comments
First round of global roadshows for the listing of Reliance Communication's (RCom) undersea cable unit Flag Telecom on the Singapore Stock Exchange is likely to begin next week, banking sources said today.
RCom has filed a prospectus with the Singapore Stock Exchange and plans to divest as much as 75 per cent stake in Flag Telecom to raise about Rs 5,000-6,000 crore.
“RCom's first round of global roadshows for Flag Telecom will begin next week,” said a source.
When contacted, RCom spokesperson declined to comment. Sources said, meanwhile, that the transaction is likely to close by June 12 and the bankers for the issue include Deutsche Bank, DBS of Singapore, Standard Chartered and Industrial and Commercial Bank of China (ICBC). RCom will use entire proceeds to pay high cost rupee loans, they said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.