Soilbuild

Soilbuild launches S$457.5m REIT IPO

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...

Soilbuild to raise up to S$643m in industrial REIT IPO

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...

Soilbuild gets shareholder approval for delisting

Integrated property developer Soilbuild has received approval from a majority of its shareholders for the firm to be taken private and be delisted from the Singapore Exchange. At the close of its exit offer on December 10, it received valid acceptances amounting to 523.2 million shares representing 99.43 per cent of all shares. As the offeror has received more than 90 per cent of acceptances from its...

Soilbuild gets S$418m offer to privatise and delist from SGX

Mainboard-listed property developer Soilbuild Group on Tuesday said it has received an offer from investment firm Dolphin Acquisitions valued at S$418 million to privatise the company and to delist it from the Singapore Exchange. Dolphin Acquisitions, a company controlled by Soilbuild's group managing director Lim Chap Huat, has offered to acquire Soilbuild's shares at 80 cents a piece from its...

Soilbuild Q2 profit up 66% to S$32.7m

Property developer Soilbuild says its second quarter profit rose by 66 percent on-year to S$32.7 million. This is despite revenue falling by 24 per cent on-year to S$73.6 million. Soilbuild says the decline in profit was partly offset by fair value gains recognized on revaluation of two projects currently under development for lease. The firm has declared a maiden interim dividend of 0.5 cents a...

Soilbuild Q1 net profit falls 47% on year to S$10.3m in absence of one-off items

Property developer Soilbuild saw its net profit fall 47 per cent on year in the first quarter to S$10.3 million. Revenue fell 50 per cent to S$32.5 million. The company said the poorer showing was due to a reduction in fair value gains from investment properties and derivative financial instruments in the same period a year ago. It also cited the absence of contributions from three residential property...

Soilbuild wins industrial site bid at Yishun Ave 6 for S$29.3m

Property developer Soilbuild Group has been awarded the tender for an industrial site at Yishun Avenue 6 with a bid of some S$29.3 million. The 153,485-square foot site has a maximum gross floor area of nearly 384,000 square feet. The 60-year leasehold site can be used for clean and light industries and warehouses. Soilbuild estimates the total development cost including land at about S$75 million to...

Soilbuild proposes share split to improve liquidity, raise interest

Mainboard-listed property developer Soilbuild is proposing a share split of each ordinary share in the firm into two ordinary shares. Currently, Soilbuild has an issued and paid-up share capital of S$58.4 million, divided into 217.3 million issued shares. After the split, the paid-up share capital remains, but the number of shares will double to 434.6 million. Soilbuild said the share split will improve...

Soilbuild signs deal to manage & market Tuas factory development

Mainboard-listed Soilbuild Group has been appointed by Kolette, a subsidiary of CSC Holdings, to manage and market a S$51.7-million business space development project in Tuas. The development will consist of 70 single, double and three-storey high terrace factory units, ranging from 3,000 to 6,000 square feet each. Under the agreement with Kolette, Soilbuild will receive a portion of these units for...

Soilbuild reports 12% drop in Q2 net profit to S$20.3m

Property developer Soilbuild on Wednesday said its net profit for the second quarter fell 12 per cent on year to S$20.3 million. This was due to an increase in its selling and operating expenses, as well as higher finance costs. But revenue rose 10 per cent to S$96.9 million, due to the progressive recognition of income from its condominium projects such as Leonie Parc View, The Centrio, Montebleue as...

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