Friday July 15, 4:52 PM
SINGAPORE (Dow Jones)--Mapletree Logistics Trust will provide investors with an annualized distribution yield of 6.0%-6.3% this year and 6.2%-6.5% next year, according to a term sheet seen Friday by Dow Jones Newswires.
This yield would make Mapletree a more attractive investment proposition than rival Ascendas Real Estate Investment Trust (A17U.SG), which is trading at a forecast yield of 4.9% for its financial year ending March 2006.
According to the term sheet, Mapletree has already held roadshows in Singapore and Hong Kong, and is currently talking to potential investors in Europe.
Mapletree, a real estate investment trust focused on logistics properties, lodged its preliminary prospectus last month for an initial public offering to raise up to S$211.4 million.
The term sheet confirms the REIT will offer 310.9 million units in an indicative price range of S$0.63 to S$0.68.
Mapletree's IPO is sponsored by Mapletree Investments Pte. Ltd., a wholly owned unit of Singapore's state-owned investment company Temasek Holdings Pte. Ltd.
The term sheet said Mapletree has a five-year right of first refusal over any future sales of logistic assets by Mapletree Investments, including a pipeline of six properties in Singapore, two in Malaysia and three in Hong Kong.
A press conference on the offer is expected Monday.
Comments - The event we have all been waiting for. Get your ammo ready and stay tuned for more detail on Monday :D
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2 comments:
With the recent strong debut on REIT IPO counters. I think there will be alot of people applying for this IPO. Futhermore, the price of the IPO is low (at Maximum of S$0.68), which will be a great draw for small time invester. Thus, it will be quite difficult to get the IPO through balloting unless you have alot of ammo to bid for bigger lots. The other way of getting it is through placement share. Anyone has any idea of getting placement share. I never try that before. All my application of new shares is through IPO.
Call yr broker for placement shares. But for popular issues & if u r not one of their big timer, it's unlikely they'll give u any. They need to ballot anyway and u hv to trust yr broker to allot to u if he has any allotment. Not a transparent process, like NKF :D
It also depends on who's the main underwriter. In this case, likely to be DBS as MapleTree is a TLC (Temasek Linked Co.) so DBS Securities will likely hv more shares for placement.
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