ValueBuddies.com : Value Investing Forum - Singapore, Hong Kong, U.S.

as reported in Reuters

looks like an interesting one to come.

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SINGAPORE (Reuters) - Larsen & Toubro Ltd (NSI:LT.NS - News) is planning to list its toll road assets in Singapore in an initial public offering worth between $500 million to $1 billion using a business trust structure, IFR reported on Wednesday.
The earliest date for the IPO is the first quarter of 2014, IFR, a Thomson Reuters publication said, adding the current weak outlook for the Indian economy and the rupee makes it hard to sell a business trust IPO to foreign investors.
Nomura Holdings Inc and Standard Chartered PLC (LSE:STAN.L - News) are working with Larsen & Toubro on the deal and others may also join the transaction, IFR said.
Officials with Larsen & Toubro and the banks were not available to comment.
Several other companies such as India's Infrastructure Leasing and Financial Services, as well as Apollo Hospitals (APLH.NS), have been working on Singapore business trust IPOs for their different subsidiaries in recent months, but without much progress, IFR said.

This could be interesting - it will be interesting to see how long the concessions are, the capital structure, the operating track record of the underlying roads though the forex rates will be an issue. Currently, not many toll road companies listed in SGX - just MIIF and CM Pacific.

(25-09-2013, 08:33 PM)Nick Wrote: [ -> ]This could be interesting - it will be interesting to see how long the concessions are, the capital structure, the operating track record of the underlying roads though the forex rates will be an issue. Currently, not many toll road companies listed in SGX - just MIIF and CM Pacific.

The toll road sector is interesting but can also be quite treacherous judging by China's experience. For example, during the 97/98 Asian crisis Hopewell found that tolls plunged as drivers switched to toll free (but longer) routes and more recently, political interference has forced toll road companies to reduce tariffs....

Bloomberg news has a bit more info.

I'm beginning to think that Singapore is haven to NRI wealth and flush with NRI idle money

Is there a reason to list in Singapore? If the deal is good, keep in Indian stock exchange better...

Keep the money offshore and not in INR. Same reason for H shares in the past.