SGX on fire as Universal mulls first oil storage trust S$1bn IPO
Universal Terminal is set to provide investors with a unique story as it eyes raising a whopping S$1bn ($770m) IPO on the Singapore Exchange next month. If successful, the company will become the largest listing in the city-state this year — and the very first oil and gas storage trust to sell shares in Asia. Despite the firsts, the IPO will be a big test of the market’s appetite for size, business trusts and oil-related stocks, writes Rashmi Kumar.
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