Reliance Comm scraps unit's Singapore IPO

RELIANCECOMM-IPO:Reliance Comm scraps unit's Singapore IPO

 

REUTERS - Reliance Communications has shelved a planned Singapore initial public offering by its GTI Trust to raise up to $1 billion, dealing a blow to its efforts to ease a $7 billion debt load.

The company said on Friday it will "await supportive market conditions and easing of prevailing global uncertainties to proceed with the offering/listing at an appropriate time in the future."