Real-estate developer Overseas Union Enterprise is considering setting up a commercial real estate investment trust to be listed on the main board of the Singapore Exchange (SGX), the company said yesterday. The initial portfolio of the proposed REIT is expected to include OUE Bayfront, an 18-storey office building at Collyer Quay, as well as commercial properties owned by Lippo China Resources, the...
REITS
Viva Industrial Trust plans to offer a 2014 dividend yield of about 8.8 per cent in an initial public offering that will raise as much as S$375 million in Singapore, according to people with knowledge of the matter. The trust, which will be backed by three industrial properties, kicked off its pre-marketing process yesterday and plans to list on the Singapore Exchange next month, they said. They...
M&L Hospitality Trusts, which last year put its planned initial public offering in Singapore on hold due to subdued demand, is reviving its listing plans, the Dow Jones news agency reported, citing people with knowledge of the deal. The property trust, which owns hotels in Singapore, Australia and Japan, is said to be considering an IPO to raise as much as US$500 million (S$635 million), the report...
Thai billionaire Charoen Sirivadhanabhakdi is looking to raise at least US$500 million (S$639.9 million) by listing a hospitality trust in Singapore next year to help refinance some of the debt that his companies took on to win control of Fraser and Neave (F&N) in January, people with knowledge of the matter said on Monday. The listing would also mark the first step towards the merging of F&N’s assets...
Singapore developer Soilbuild Group Holdings launched yesterday a S$457.5 million initial public offering of its business space assets, pricing its units at S$0.78 apiece, the lower end of its indicative range. The IPO comes two weeks after two real estate investment trusts had somewhat mixed fortunes on their debut, with SPH REIT gaining 9 per cent but OUE Hospitality Trust ending flat. Soilbuild...
Companies are again rushing to list real estate and other assets in Singapore, with billions of dollars in deals that are putting the city-state on track for its best year for initial public offerings. The firms are listing in the form of trusts, which investors find attractive because they pay high returns and assured dividends. In the past week, two real estate investment trusts (REITs) raised more...
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...
CapitaMalls Asia reported a profit after tax and minority interest (PATMI) of S$245.6 million in the second quarter of 2013. This marked a 5.9 per cent growth over the previous year. According to CapitaMalls Asia, its improved profitability was due to contributions from new malls, asset enhancement initiatives and acquisitions of stakes in four Japan malls in 2012, as well as profit recognition for...
Singapore Press Holdings (SPH) will be raising S$504 million in an initial public offering of its retail-focused real-estate investment trust. According to its prospectus, SPH REIT plans to sell its units at 90 Singapore cents each, representing the top-end of the indicative price range of 85 Singapore cents to 90 cents. The trust is selling 308.9 million units to institutional and public investors....
CapitaCommercial Trust (CCT) said higher revenue and lower interest expenses have pushed its second quarter distributable income up 1.9 per cent on-year to S$59.6 million. Meanwhile, CCT's distribution per unit (DPU) rose 0.5 per cent on-year to 2.07 cents per unit. The real estate trust's gross revenue also grew in Q2, up 1.8 per cent on-year to S$97.5 million. CCT's new and renewed Grade A...