Developer Soilbuild Group Holdings is looking to raise as much as S$643 million in an initial public offering (IPO) of its industrial and business properties.
SINGAPORE: Developer Soilbuild Group Holdings is looking to raise as much as S$643 million in an initial public offering (IPO) of its industrial and business properties.
Soilbuild
Business Space REIT (Soilbuild REIT) will be offering 586.5 million
units at an indicative price range of 77 cents to 80 cents per unit,
according to a preliminary prospectus filed with the Monetary Authority
of Singapore (MAS).
499 million units will go to investors and institutions in the placement tranche, while 87.5 million units will be offered to the public.
Soilbuild's co-founder Lim Chap Huat has also offered to buy an additional 216.9 million units.
According to the prospectus, the trust expects to offer dividend yields of between 7.5 and 7.8 per cent based on its 2014 projections.
The REIT's initial portfolio will comprise seven business space properties, including two business park developments and five industrial properties.
Soilbuild Group's construction arm Soilbuild Construction Group is listed on the SGX Mainboard.
499 million units will go to investors and institutions in the placement tranche, while 87.5 million units will be offered to the public.
Soilbuild's co-founder Lim Chap Huat has also offered to buy an additional 216.9 million units.
According to the prospectus, the trust expects to offer dividend yields of between 7.5 and 7.8 per cent based on its 2014 projections.
The REIT's initial portfolio will comprise seven business space properties, including two business park developments and five industrial properties.
Soilbuild Group's construction arm Soilbuild Construction Group is listed on the SGX Mainboard.
Rupee ended at 63.71 per dollar yesterday versus its close of 63.50 on
ReplyDeleteFriday on some demand from importers, but gains in the domestic share market prevented further losses.
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