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Friday, December 14, 2007
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IPO News
Dec 11 2007 4:07PM
Mercator prices Singapore IPO at bottom of range

(Click <SG/IPOMENU> for a Singapore IPO diary)

HONG KONG, Dec 11 (Reuters) - A unit of Indian shipping firm Mercator Lines <MRCT.BO> raised about US$142.5 million after pricing its Singapore initial public offering at the bottom of its indicated range, according to a Bombay Stock Exchange announcement on Tuesday.

Mercator Lines (Singapore) Ltd sold 270.19 million shares at S$0.76 each, compared with a range of S$0.76 to S$0.94 a share, ahead of a trading debut set for Friday. Merrill Lynch <MER.N> and Deutsche Bank <DBKGn.DE> are underwriting the IPO.

The firm also allocated US$39 million worth of shares to holders of convertible bonds.

(US$1=S$1.4411)

(Reporting by Tony Munroe)

(([email protected]; Reuters Messaging: [email protected]; +852 2843 6358, Fax +852 2845 0636)) Keywords: MERCATOR IPO/

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