The IPO, Singapore's second biggest so far this year, has been priced at S$0.97 a unit, the people said.
The indicative price range was S$0.92-S$1.00 per unit.
Asian Pay Television Trust is an investment vehicle of Taiwan Broadband Communications, which is owned by two funds managed by Australia's Macquarie Group Ltd. -- the Macquarie International Infrastructure Fund (M41.SG), or MIIF, and Macquarie Korea Opportunities Fund.
Both funds plan to sell their stakes to Asian Pay Television Trust.
A Macquarie spokeswoman declined to comment.
Asian Pay Television had started taking orders from institutional investors earlier this month and the IPO was nearly three times oversubscribed, one of the people said.
Asian Pay Television's IPO comes at a time when Southeast Asian markets and deal activity have taken off this year: The stock market in the Philippines is up 27% while Indonesia and Thailand both have gained 17%. Singapore is up 8.7% so far this year.
According to data provider Dealogic, Singapore is ranked number one in Southeast Asia so far in terms of equity capital market deals worth S$4.48 billion.
That includes a US$1.3 billion IPO by Mapletree Investments Pte. Ltd., a unit of state-investment firm Temasek Holdings Pte., that did an IPO of a China-focused real-estate investment trust in March.
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