F1 to start pre-marketing Singapore IPO

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http://www.todayonline.com/Business/EDC120521-0000140/F1-to-start-pre-marketing-Singpore-IPO--Sources

Formula One will start pre-marketing for its multi-billion-dollar Singapore initial public offering tomorrow after receiving approval from the city's stock exchange for the deal, sources with direct knowledge of the plans said on Monday.

The company is seeking to raise at least US$2.5 billion (S$3.2 billion), vying to rank among the top IPOs in the world this year after Facebook raised as much as US$18.4 billion and a planned US$3-billion listing by Malaysia's Felda Global Ventures Holding.

The IPO is set to be priced before the end of June after the company and its bankers meet with investors and fund managers to gauge demand for the IPO, said the sources, who asked not to be named because they were not authorised to speak publicly on the matter.