MobileOne (Asia) Pte Ltd. (a.k.a. M1) plans an initial public offering of its shares on the Singapore stock exchange

August 30, 2002

1 Min Read

SINGAPORE -- MobileOne (Asia) Pte Ltd ("M1") today announced that it intends to seek an initial public offering of its shares ("proposed IPO") on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The shareholders of M1, i.e. SPH Multimedia Pte Ltd ("SPHM"), a subsidiary of Singapore Press Holdings Ltd., Keppel Telecoms Pte Ltd ("KTPL"), a subsidiary of Keppel Telecommunications and Transportation Ltd, and Great Eastern Telecommunications Ltd ("GET"), a company 51% owned by Cable and Wireless plc and 49% owned by PCCW-HKT Ltd., are, together with M1, in the final stages of appointing a Global Co-ordinator and Manager ("Advisor") in respect of the proposed IPO. The shareholders of M1 have agreed in-principle that any share offering will be in respect of new and existing shares of M1 and will likely comprise more than 50% of M1's shareholding. It is also anticipated that the proposed IPO will involve a substantial global offering plus a domestic retail tranche. The structure and other details of the proposed IPO will be determined after the appointment of the Advisor. Subject to market conditions and the approval of the relevant authorities and regulators, and barring any unforeseen circumstances, the proposed IPO is targeted to be in the last quarter of 2002. MobileOne (Asia) Pte Ltd.

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