Soilbuild Reit to price IPO on Singapore Exchange at low end

Soilbuild Reit to price IPO on Singapore Exchange at low end

REUTERS - Singapore's Soilbuild Business Space Reit is set to price its $457 million stock market listing at the lower end of its indicative price range, Thomson Reuters publication IFR reported.
Sponsored by property developer Soilbuild Group Holdings, the Reit is expected to price its initial public offering (IPO) at $0.78, from the $0.77-S$0.80 range it had flagged previously, IFR said.
Soilbuild Reit will hold a media briefing on Wednesday to announce the pricing. A spokesman for Soilbuild declined comment on the pricing.
The Reit, which owns seven business and industrial properties in Singapore, has offered 586.5 million units. Based on the indicative price range, the company was offering a yield of 7.3-7.6 per cent for 2013 and 7.5-7.8 per cent for 2014.

Source: Straits Times