According to Today newspaper, Mapletree investment is going to file its prospectus (REIT) with MAS next week. There is an indication the yield is about 6 per cent and higher but the downside is the small size of the issue. Expected price of the share is between $0.65 and $0.70. For additional information, please keep track of the IPO at MAS website
Comment: I think there will be a huge demand for the REIT IPO as the recent REIT IPOs were well received and if the source of information is correct, then the yield is one of the best compared to the present lot of Singapore REIT. Furthermore, due to the small size of issue, it will be quite difficult to get the IPO through balloting but I think I will apply for it. Wait till next week for more detail information. :)
Comment: I think there will be a huge demand for the REIT IPO as the recent REIT IPOs were well received and if the source of information is correct, then the yield is one of the best compared to the present lot of Singapore REIT. Furthermore, due to the small size of issue, it will be quite difficult to get the IPO through balloting but I think I will apply for it. Wait till next week for more detail information. :)
3 comments:
The news is not confirmed but very likely to be true. It explains why Temasek sold almost their entire stake in CCT.
There's a bit of an overhang in the mkt due to release of new units by Fortune and sale of both Temasek's CCT and Mr Li's Suntec stakes. So, ya, pricing hv to be aro' 6% nett yield at least.
June 27, 2005 06:59 ET
SINGAPORE (Dow Jones)--Mapletree Logistics Trust, a real estate investment trust focused on logistics properties, Monday said it has lodged its preliminary prospectus to raise up to S$211.4 million via an initial public offering.
Mapletree said it plans to offer 310.9 million units at a price range of between S$0.63 and S$0.68 per unit. The proposed offering consists of an international placement to investors, including institutions and other investors in Singapore, as well as an offer to the public.
Mapletree's portfolio currently comprises 15 properties in Singapore with a total lettable area of 792,884.6 square meters, but it expects to expand beyond the city-state in the near term.
"The investment strategy of the REIT envisages acquisitions of logistics asset investments across the Asia-Pacific region, including Singapore, Malaysia, the PRC (mainland China), Hong Kong, Thailand, Vietnam, India, Indonesia, the Philippines, Japan and South Korea," Mapletree said in a statement.
Mapletree didn't give the fund's asset value or expected yields based on the offer price.
Mapletree Logistics Trust is managed by Mapletree Logistics Trust Management, which is in turn part of a Mapletree Investments Pte. Ltd., a wholly owned unit of Singapore's state-owned investment company, Temasek Holdings Pte. Ltd.
According to Mapletree Logistics Trust, the REIT's properties have a weighted average occupancy rate of 95.2%. The land on which its properties sit has a remaining weighted average lease of 60.3 years, the REIT added.
DBS Bank Ltd. and UBS Investment Bank are the joint financial advisers, global co-ordinators and bookrunners for the offering, while G. K. Goh Stockbrokers Pte. Ltd. is the co-lead manager and sub-underwriter in the transaction.
SINGAPORE (XFN-ASIA) - Mapletree Investments said it has agreed to buy 11 logistics properties in the region for 256 mln sgd.
Six of the properties are in Singapore, three in Hong Kong and two are in Malaysia, it said.
"These acquisitions are an important part of our strategy to expand our investments beyond Singapore. The properties are high-quality logistics assets, tenanted by leading multinational and regional logistics players," Mapletree Investments chief executive Hiew Yoon Khong said.
Mapletree Investments is the parent company of Mapletree Logistics Trust, which is due to list on the Singapore Exchange soon. Singapore government investment arm Temasek Holdings holds a 100 pct stake in Mapletree Investments.
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