Clifford Chance and Allen & Gledhill are advising Asian Pay Television Trust, an investment vehicle for Taiwan’s largest cable television operator, on a $1.1 billion initial public offering in Singapore.
Singapore partner Johannes Juette is leading the Clifford Chance team acting for Asian Pay, a subsidiary of Taiwan Broadband Communications. The issuer will start taking orders from retail investors on May 24, and will list on the stock exchange five days later. Cornerstone investors, who have already subscribed to a third of the shares being offered, include Prudential Plc. and Och-Ziff Capital Management Group.
Allen & Gledhill partners Tan Tze Gay and Rhys Goh are advising Asian Pay on Singapore law and Taipei-based Lee, Tsai & Partners is acting as Taiwan counsel.
If successful, the IPO will be the second-largest in Singapore so far this year, just behind the $1.3 billion March listing of real estate investment trust Mapletree Investments Pte., a unit of Singaporean sovereign wealth fund Temasek Holdings Pte. Ltd.
Latham & Watkins Singapore partner Min Yee Ng and WongPartnership partners Gail Ong and Karen Yeoh advised the underwriters—JPMorgan Chase & CO., DBS Group Holdings Ltd., CIMB Group Holdings Bhd. and Macquarie Group Ltd.
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