RComs unit files initial prospectus for IPO in Singapore

Reliance Communications today said it has filed a preliminary prospectus with the regulator Monetary Authority of Singapore for listing its undersea unit,Flag Telecom,in Singapore.

RCom is looking at listing Flag Telecom through a Singapore business trust,Global Telecommunications Infrastructure Trust GTIT on the Singapore stock exchange. The Monetary Authority of Singapore is Singapores central bank and financial regulatory authority.

The business trust,GTIT,has lodged a copy of the preliminary prospectus with the Monetary Authority of Singapore, RCom said in a statement today.

The IPO is expected to raise about Rs 5,000-6,000 crore for the company.