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(Singapore, 18 March 2011) Hutchison Port Holdings Trust ("HPH Trust"), which offers investors an attractive opportunity to invest in world class deep-water container port assets in the Pearl River Delta region, began trading at 2.00 p.m. today on the Main Board of Singapore Exchange Securities Trading Limited (the "SGX-ST").
A listing ceremony was held at The Gallery, SGX Centre 1 where more than 100 guests gathered to celebrate the momentous occasion with key executives from HPH Trust.
Raising gross proceeds of approximately US$5.45 billion from the Offering of 3,795,549,200 Units and 1,603,960,800 Units issued to the cornerstone investors, HPH Trust represents the largest ever initial public offering ("IPO") in Singapore and South East Asia, as well as the largest IPO globally year-to-date.
The total number of issued and outstanding Units after the completion of the Offering is 8,708,888,000 Units. Based on the Offering Price of US$1.01 per Unit, HPH Trust has a market capitalisation of approximately US$8.8 billion, making it one of the largest counters on the SGX-ST.
Commenting on the listing, Mr Canning Fok, Chairman of the Trustee-Manager, said, "This is a key milestone for the Hutchison group and we are very excited to list the first container port business trust in Singapore. Through this IPO, our investors will have the opportunity to participate in the growth story of the Pearl River Delta. With the numerous competitive advantages of our key assets and the backing of our Sponsor, Hutchison Port Holdings, we are confident that the Trust will remain the preferred port-of-call in many years to come."
DBS Bank Ltd., Deutsche Bank AG, Singapore Branch, and Goldman Sachs (Singapore) Pte. are the Joint Bookrunners, Lead Managers, Issue Managers and Underwriters for the Offering.
Chairman of HPH Trust Trustee-Manager, Mr Canning Fok (sixth from right) strikes the gong at Singapore Exchange (SGX) together with SGX Chairman Mr Chew Choon Seng (fifth from left) to commence trading of HPH Trust.
Mr Canning Fok presents a souvenir, a crystal miniature of a container terminal, to Mr Chew Choon Seng at the listing ceremony of HPH Trust, while Mr John Meredith, Deputy Chairman of HPH Trust Trustee-Manager, and Mr Gan Seow Ann, Co-President of SGX, look on.
Mr Canning Fok shares a relaxing moment with Ms Ho Ching, Chief Executive of Temasek Holdings, and Mr Fock Siew Wah, Group Chairman of PSA International, at the listing ceremony.
Board of directors of HPH Trust Trustee-Manager takes a group photo at the listing ceremony.
For further information, please contact:
|Kreab Gavin Anderson||Hutchison Port Holdings Limited|
|Terence FOO||Lily CHAN|
|Tel: (65) 9878 8787||Tel: (852) 2619 6366|
|Email: firstname.lastname@example.org||Email: email@example.com|
|LIM Yuan See||Anthony TAM|
|Tel: (65) 9369 2250||Tel: (852) 2619 7574|
|Email: firstname.lastname@example.org||Email: email@example.com|
About Hutchison Port Holdings Trust
Hutchison Port Holdings Trust ("HPH Trust") is the world's first publicly traded container port business trust and provides Unitholders with an attractive opportunity to invest in the market leader of the world's largest trading hub by throughput, the Pearl River Delta.
HPH Trust's portfolio consists of interests in deep-water container port assets comprising HITL (which operates HIT), CHT (which operates COSCO-HIT) and YICT, YICTP3 and SYWPT (which operate Yantian) (collectively, the "Portfolio Container Terminals"), as well as certain port ancillary services and the economic benefits of river ports complementary to the Portfolio Container Terminals.
HPH Trust's investment mandate is principally to invest in, develop, operate and manage deep-water container ports in the Guangdong Province, Hong Kong and Macau. HPH Trust may also invest in other types of port assets, including river ports, which are complementary to the deep- water container ports operated by HPH Trust, as well as undertake certain port ancillary services including, but not limited to, trucking, feedering, freight-forwarding, supply chain management, warehousing and distribution services.
About the Trustee-Manager: Hutchison Port Holdings Management Pte. Limited
Hutchison Port Holdings Management Pte. Limited is the Trustee-Manager of HPH Trust, which has the dual responsibility of safeguarding the interests of Unitholders, and managing HPH Trust's businesses.
The Trustee-Manager, an indirect wholly-owned subsidiary of HWL, will manage HPH Trust's business with the key objective of providing Unitholders with stable and regular distributions as well as long-term growth in distributions per Unit ("DPU").
The Board of the Trustee-Manager consists of individuals with a broad range of commercial experience, including expertise in the port industry.
About the Sponsor: Hutchison Port Holdings Limited
The Sponsor is Hutchison Port Holdings Limited ("HPH"), a company incorporated in the British Virgin Islands, and a subsidiary of HWL, a company listed on Main Board of The Stock Exchange of Hong Kong Limited. HPH is the world's largest privately-owned container terminal operator in terms of throughput handled. As at 31 December 2010, the Sponsor held interests in a total of 308 berths in 51 ports, spanning 25 countries throughout Asia, the Middle East, Africa, Europe, the Americas and Australasia. It operates in six of the ten busiest container ports in the world by throughput. In 2009, the Sponsor and its subsidiaries, jointly controlled entities and associated companies handled a combined throughput of approximately 65.3 million TEU worldwide.
This press release does not constitute or form part of an offer to sell or issue or invitation to acquire, purchase or subscribe for any securities of HPH Trust in the United States, Canada, Japan, or any other jurisdiction, and no part of this press release shall form the basis of or be relied upon in connection with any contract or commitment. Specifically, this press release does not constitute a "prospectus" within the meaning of the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities have not been, and will not be, registered under the Securities Act and may not be offered or sold in the United States absent registration under the Securities Act or an exemption from registration. Any public offering of securities to be made in the United States would be by means of a prospectus that could be obtained from the Trustee-Manager or any selling Unitholder and that would contain detailed information about HPH Trust and management, as well as financial statements. HPH Trust does not intend to make any public offering of any securities in the United States.
Copyright 2011 © Hutchison Whampoa Limited. All rights reserved.