报业控股房地产投资信托可派发收入比预测高
报业控股房地产投资信托（SPH REIT）首次在上市后发布业绩，信托从去年7月24日上市至11月底的可派发收入达4653万元，相当于每单位可派发收入（DPU）1.86分，比首次公开售股时的预测高出0.04分或2.2％。
该信托的两个资产——百利宫（Paragon）与金文泰广场（Clementi Mall）都已全面租出。其中，百利宫保持优异表现，在去年7月24日至11月底期内的续租及新租约的租金调升12.4％。
金文泰广场的租约情况也取得长足进展，大多数于2014年到期的租约都已续期或重新出租，超过90％租户（按净出租面积而计）也已承诺继续第二个租期。
报业控股房地产投资信托管理公司总裁练美英说：“我们很高兴信托首次派发的收入超越上市时的预测。这两家购物商场都保持100％承诺租约的表现，其中百利宫续约租金表现强劲，金文泰广场也取得稳定业绩。”
她说，信托将继续积极管理其房地产，为信托单位持有者提供可持续的回报，同时寻求创造价值的新机会。
由于新加坡交易所豁免该信托发布截至去年8月底的2013财年全年业绩，信托将去年上市日至8月底的业绩并入了截至11月底的第一季业绩中。
该信托在这四个多月期间的总营业额为7040万元，较预测少了50万元或0.7％；净房地产收入则比预期高出了30万元或0.5％，计5137万元。
以每单位0.90元的发售价来计算，信托的年率化派息率为5.80％，这也比预测的5.68％高出2.1％。
信托每单位盈利为1.54分，每单位净资产值为0.90元。
信托将于下月14日派发收入。
- See more at: http://news.omy.sg/News/Finance/Bao-Ye-Kong-Gu-Fang-Di-Chan-Tou-Zi-Xin-Tuo-Ke-Pai-Fa-Shou-Ru-Bi-Yu-Ce-Gao-233783#sthash.AnBlyJv4.dpuf
- wong chee tat :)
Showing posts with label sph. Show all posts
Showing posts with label sph. Show all posts
Sunday, January 12, 2014
Monday, September 30, 2013
Yahoo! Asia Pacific pay damages to SPH in copyright infringement suit
Yahoo! Asia Pacific pay damages to SPH in copyright infringement suit
By Vimita Mohandas
POSTED: 30 Sep 2013 20:31
Yahoo! Asia Pacific has paid damages and costs to Singapore Press Holdings (SPH) in a copyright infringement suit.
SINGAPORE: Yahoo! Asia Pacific has paid damages and costs to Singapore Press Holdings (SPH) in a copyright infringement suit.
This was revealed in a joint media statement on Monday.
The settlement amount was not stated.
Under the terms of the amicable settlement, Yahoo! Asia Pacific has acknowledged that it has reproduced content from SPH's newspapers on its Yahoo! Singapore News site without SPH's approval.
The responsible employees have been disciplined or terminated.
The statement mentioned that Yahoo! companies strive to respect the intellectual property rights of others wherever they do business.
In November 2011, SPH filed a lawsuit against Yahoo, citing 23 articles from which Yahoo had substantially reproduced content without permission.
Yahoo then countersued SPH in December 2011, citing two articles and a picture allegedly posted on SPH's website Stomp as infringement of its copyright.
In August last year, SPH filed an amended claim, citing a total of 254 articles stretching over 17 months, which it said Yahoo had reproduced without permission.
- CNA/fa
- wong chee tat :)
By Vimita Mohandas
POSTED: 30 Sep 2013 20:31
Yahoo! Asia Pacific has paid damages and costs to Singapore Press Holdings (SPH) in a copyright infringement suit.
SINGAPORE: Yahoo! Asia Pacific has paid damages and costs to Singapore Press Holdings (SPH) in a copyright infringement suit.
This was revealed in a joint media statement on Monday.
The settlement amount was not stated.
Under the terms of the amicable settlement, Yahoo! Asia Pacific has acknowledged that it has reproduced content from SPH's newspapers on its Yahoo! Singapore News site without SPH's approval.
The responsible employees have been disciplined or terminated.
The statement mentioned that Yahoo! companies strive to respect the intellectual property rights of others wherever they do business.
In November 2011, SPH filed a lawsuit against Yahoo, citing 23 articles from which Yahoo had substantially reproduced content without permission.
Yahoo then countersued SPH in December 2011, citing two articles and a picture allegedly posted on SPH's website Stomp as infringement of its copyright.
In August last year, SPH filed an amended claim, citing a total of 254 articles stretching over 17 months, which it said Yahoo had reproduced without permission.
- CNA/fa
- wong chee tat :)
Wednesday, July 24, 2013
OUE Hospitality Trust IPO 19.1 Times Subscribed
OUE Hospitality Trust IPO 19.1 Times Subscribed
by Admin on Jul 24, 2013 • 8:21 pm
by Ernie B. Calucag
singapore
The initial public offering (IPO) of OUE Hospitality Trust, which comprises OUE Hospitality Real Estate Investment Trust and OUE Hospitality Business Trust, is 19.1 times subscribed, the trust said Wednesday.
The public offering of around 434.6 million stapled securities, which closed Tuesday noon, received 40,935 applications representing approximately 974.7 million units.
Meanwhile, the placement tranche of 383.5 million stapled securities to institutional investors and 51.1 million stapled securities to the public in Singapore were both fully subscribed.
Together, the OUE Hospitality Trust raised gross proceeds of S$600.0 million, with potential to go up to S$660.0 million if the over-allotment option of 68.2 million stapled securities is exercised in full.
The trust also secured an additional S$218.0 million worth of commitments from cornerstone investors such as Credit Suisse AG, Goldhill, Mr Gordon Tang, Lucille Holdings Pte Ltd and Splendid Asia Macro Fund who have subscribed for an aggregate of 247.2 million stapled securities.
Priced at S$0.88 per stapled security, the holders can expect to receive annualised 2013 distribution yield of 7.36 per cent and projected 7.46 per cent in 2014.
“The strong demand from the market highlights that investors recognise the sound asset fundamentals that underpin the portfolio of OUE H-Trust, as well as the strong backing of our sponsor Overseas Union Enterprise (OUE),” said Chong Kee Hiong, CEO of the REIT Manager.
OUE said it will initially inject two assets in the trust- the Mandarin Orchard hotel and the Mandarin Gallery mall along Orchard Road.
Also, a business hotel next to Changi Airport and two hospitality assets in China may be offered to OUE Hospitality Trust, according to the IPO prospectus. The properties, which have a total valuation of S$413.0 million as at 31 December 2013, could potentially double the number of hotel rooms owned by the trust, according to the document.
Led by Indonesian tycoon Stephen Riady, OUE revived plans for the REIT listing soon after it lost the battle to buy Fraser and Neave to Thai billionaire Charoen Sirivadhanabhakdi.
OUE also owns hotel properties outside Singapore, including Meritus Pelangi Beach Resort & Spa Langkawi in Malaysia and Meritus Mandarin Haikou and Meritus Shantou in China.
The share sale was managed by Credit Suisse Group AG, Goldman Sachs Group Inc. and Standard Chartered Plc.
OUE Hospitality Trust will start trade at 2.00 p.m. on Thursday, July 25.
SPH REIT Debuts Strong
SPH REIT gained on its first day of trading as investors were attracted by returns higher than those of comparable properties.
The shares jumped 9.4 per cent to 98.5 S-cents at the close of trading Tuesday. The stock was offered at 90 S-cents apiece, the top end of its price range.
SPH REIT units were offered with a yield of 5.79 per cent based on fiscal 2014 projections. That is higher than the measure tracking REITs in Singapore, which trades with a yield of 4.76 per cent, according to data compiled by Bloomberg.
The media group Singapore Press Holdings sold 615.8 million REIT units, raising S$554.0 million.
The SPH REIT’s assets will include the luxury Paragon mall in the prime shopping district of Orchard Road and the suburban Clementi Mall.
REITs and business trusts were the biggest fundraisers in Singapore’s initial public offering market in the past year, accounting for US$4.16 billion of the US$6.2 billion of stock priced, according to data compiled by Bloomberg.
The biggest share sale was the S$1.6 billion raised by Mapletree Greater China Commercial Trust, a REIT that owns assets including the Festival Walk shopping mall in Hong Kong and an office complex in Beijing.
The citystate lists 23 REITs and is the largest REIT market in Asia ex-Japan. Singapore-listed REITs have a combined market capitalisation of S$52.0 billion. Together the 23 REITs provide a diverse mix of local and international property assets that house industrial, commercial, retail, residential and specialised tenants.
- wong chee tat :)
by Admin on Jul 24, 2013 • 8:21 pm
by Ernie B. Calucag
singapore
The initial public offering (IPO) of OUE Hospitality Trust, which comprises OUE Hospitality Real Estate Investment Trust and OUE Hospitality Business Trust, is 19.1 times subscribed, the trust said Wednesday.
The public offering of around 434.6 million stapled securities, which closed Tuesday noon, received 40,935 applications representing approximately 974.7 million units.
Meanwhile, the placement tranche of 383.5 million stapled securities to institutional investors and 51.1 million stapled securities to the public in Singapore were both fully subscribed.
Together, the OUE Hospitality Trust raised gross proceeds of S$600.0 million, with potential to go up to S$660.0 million if the over-allotment option of 68.2 million stapled securities is exercised in full.
The trust also secured an additional S$218.0 million worth of commitments from cornerstone investors such as Credit Suisse AG, Goldhill, Mr Gordon Tang, Lucille Holdings Pte Ltd and Splendid Asia Macro Fund who have subscribed for an aggregate of 247.2 million stapled securities.
Priced at S$0.88 per stapled security, the holders can expect to receive annualised 2013 distribution yield of 7.36 per cent and projected 7.46 per cent in 2014.
“The strong demand from the market highlights that investors recognise the sound asset fundamentals that underpin the portfolio of OUE H-Trust, as well as the strong backing of our sponsor Overseas Union Enterprise (OUE),” said Chong Kee Hiong, CEO of the REIT Manager.
OUE said it will initially inject two assets in the trust- the Mandarin Orchard hotel and the Mandarin Gallery mall along Orchard Road.
Also, a business hotel next to Changi Airport and two hospitality assets in China may be offered to OUE Hospitality Trust, according to the IPO prospectus. The properties, which have a total valuation of S$413.0 million as at 31 December 2013, could potentially double the number of hotel rooms owned by the trust, according to the document.
Led by Indonesian tycoon Stephen Riady, OUE revived plans for the REIT listing soon after it lost the battle to buy Fraser and Neave to Thai billionaire Charoen Sirivadhanabhakdi.
OUE also owns hotel properties outside Singapore, including Meritus Pelangi Beach Resort & Spa Langkawi in Malaysia and Meritus Mandarin Haikou and Meritus Shantou in China.
The share sale was managed by Credit Suisse Group AG, Goldman Sachs Group Inc. and Standard Chartered Plc.
OUE Hospitality Trust will start trade at 2.00 p.m. on Thursday, July 25.
SPH REIT Debuts Strong
SPH REIT gained on its first day of trading as investors were attracted by returns higher than those of comparable properties.
The shares jumped 9.4 per cent to 98.5 S-cents at the close of trading Tuesday. The stock was offered at 90 S-cents apiece, the top end of its price range.
SPH REIT units were offered with a yield of 5.79 per cent based on fiscal 2014 projections. That is higher than the measure tracking REITs in Singapore, which trades with a yield of 4.76 per cent, according to data compiled by Bloomberg.
The media group Singapore Press Holdings sold 615.8 million REIT units, raising S$554.0 million.
The SPH REIT’s assets will include the luxury Paragon mall in the prime shopping district of Orchard Road and the suburban Clementi Mall.
REITs and business trusts were the biggest fundraisers in Singapore’s initial public offering market in the past year, accounting for US$4.16 billion of the US$6.2 billion of stock priced, according to data compiled by Bloomberg.
The biggest share sale was the S$1.6 billion raised by Mapletree Greater China Commercial Trust, a REIT that owns assets including the Festival Walk shopping mall in Hong Kong and an office complex in Beijing.
The citystate lists 23 REITs and is the largest REIT market in Asia ex-Japan. Singapore-listed REITs have a combined market capitalisation of S$52.0 billion. Together the 23 REITs provide a diverse mix of local and international property assets that house industrial, commercial, retail, residential and specialised tenants.
- wong chee tat :)
Thursday, July 18, 2013
OUE Prices Hospitality Trust IPO at S$0.88 to Raise S$600 million
OUE Prices Hospitality Trust IPO at S$0.88 to Raise S$600 million
by Admin on Jul 18, 2013 • 7:41 pm
by Ernie B. Calucag
Singapore property firm Overseas Union Enterprise Ltd (OUE) has priced Thursday the initial public offering of its hospitality and retail assets at S$0.88 per stapled security, at the low end of the indicative range of S$0.88 to S$0.90 each.
According to the prospectus, OUE Hospitality Trust will offer 434,598,000 stapled securities, consisting of an international placement of 383,462,000 stapled securities and 51,136,000 stapled securities to the public in Singapore.
The offer also includes 247,220,000 stapled securities to cornerstone investors such as Credit Suisse AG, Goldhill, Mr Gordon Tang, Lucille Holdings Pte Ltd and Splendid Asia Macro Fund.
OUE Hospitality Trust is expected to raise S$600.0 million from the offering. At S$0.88 each, the trust is offering a yield of 7.46 per cent based on fiscal 2014 projections, according to the prospectus.
The trust will comprise a real estate investment trust and a business trust. OUE said it will initially inject two assets in the trust- the Mandarin Orchard hotel and the Mandarin Gallery mall along Orchard Road.
Also, a business hotel next to Changi Airport and two hospitality assets in China may be offered to OUE Hospitality Trust, according to the IPO prospectus. The properties, which have a total valuation of S$413.0 million as at 31 December 2013, could potentially double the number of hotel rooms owned by the trust, according to the document.
Led by Indonesian tycoon Stephen Riady, OUE revived plans for the REIT listing soon after it lost the battle to buy Fraser and Neave to Thai billionaire Charoen Sirivadhanabhakdi.
OUE also owns hotel properties outside Singapore, including Meritus Pelangi Beach Resort & Spa Langkawi in Malaysia and Meritus Mandarin Haikou and Meritus Shantou in China.
The share sale was managed by Credit Suisse Group AG, Goldman Sachs Group Inc. and Standard Chartered Plc.
The retail tranche of the offering opens Thursday while listing will be on July 25.
OUE’s IPO follows that of media group Singapore Press Holdings (SPH)’s REIT offering, priced at S$0.90 per unit Wednesday.
SPH said the final price, at the top end of the indicated range, was settled after seeing strong institutional investor response during the bookbuilding process, amounting to approximately 42 times the number of units offered under the placement tranche.
The media group is expected to raise S$504.0 million on offering of 308.9 million units to institutional and public investors, and 251 million units to cornerstone investors such as Great Eastern Life Assurance Company, Hong Leong Asset Management and Morgan Stanley Investment Management Company.
At S$0.90 per unit, SPH REIT offers a yield of 5.58 per cent and 5.79 per cent for the forecast period 2H2013 and projection year 2014, respectively.
The SPH REIT’s assets will include the luxury Paragon mall in the prime shopping district of Orchard Road and the suburban Clementi Mall.
REITs and business trusts were the biggest fundraisers in Singapore’s initial public offering market in the past year, accounting for US$4.16 billion of the US$6.2 billion of stock priced, according to data compiled by Bloomberg.
The biggest share sale was the S$1.6 billion raised by Mapletree Greater China Commercial Trust, a REIT that owns assets including the Festival Walk shopping mall in Hong Kong and an office complex in Beijing.
The citystate lists 23 REITs and is the largest REIT market in Asia ex-Japan. Singapore-listed REITs have a combined market capitalisation of S$52.0 billion. Together the 23 REITs provide a diverse mix of local and international property assets that house industrial, commercial, retail, residential and specialised tenants.
More good news coming?
- wong chee tat :)
by Admin on Jul 18, 2013 • 7:41 pm
by Ernie B. Calucag
Singapore property firm Overseas Union Enterprise Ltd (OUE) has priced Thursday the initial public offering of its hospitality and retail assets at S$0.88 per stapled security, at the low end of the indicative range of S$0.88 to S$0.90 each.
According to the prospectus, OUE Hospitality Trust will offer 434,598,000 stapled securities, consisting of an international placement of 383,462,000 stapled securities and 51,136,000 stapled securities to the public in Singapore.
The offer also includes 247,220,000 stapled securities to cornerstone investors such as Credit Suisse AG, Goldhill, Mr Gordon Tang, Lucille Holdings Pte Ltd and Splendid Asia Macro Fund.
OUE Hospitality Trust is expected to raise S$600.0 million from the offering. At S$0.88 each, the trust is offering a yield of 7.46 per cent based on fiscal 2014 projections, according to the prospectus.
The trust will comprise a real estate investment trust and a business trust. OUE said it will initially inject two assets in the trust- the Mandarin Orchard hotel and the Mandarin Gallery mall along Orchard Road.
Also, a business hotel next to Changi Airport and two hospitality assets in China may be offered to OUE Hospitality Trust, according to the IPO prospectus. The properties, which have a total valuation of S$413.0 million as at 31 December 2013, could potentially double the number of hotel rooms owned by the trust, according to the document.
Led by Indonesian tycoon Stephen Riady, OUE revived plans for the REIT listing soon after it lost the battle to buy Fraser and Neave to Thai billionaire Charoen Sirivadhanabhakdi.
OUE also owns hotel properties outside Singapore, including Meritus Pelangi Beach Resort & Spa Langkawi in Malaysia and Meritus Mandarin Haikou and Meritus Shantou in China.
The share sale was managed by Credit Suisse Group AG, Goldman Sachs Group Inc. and Standard Chartered Plc.
The retail tranche of the offering opens Thursday while listing will be on July 25.
OUE’s IPO follows that of media group Singapore Press Holdings (SPH)’s REIT offering, priced at S$0.90 per unit Wednesday.
SPH said the final price, at the top end of the indicated range, was settled after seeing strong institutional investor response during the bookbuilding process, amounting to approximately 42 times the number of units offered under the placement tranche.
The media group is expected to raise S$504.0 million on offering of 308.9 million units to institutional and public investors, and 251 million units to cornerstone investors such as Great Eastern Life Assurance Company, Hong Leong Asset Management and Morgan Stanley Investment Management Company.
At S$0.90 per unit, SPH REIT offers a yield of 5.58 per cent and 5.79 per cent for the forecast period 2H2013 and projection year 2014, respectively.
The SPH REIT’s assets will include the luxury Paragon mall in the prime shopping district of Orchard Road and the suburban Clementi Mall.
REITs and business trusts were the biggest fundraisers in Singapore’s initial public offering market in the past year, accounting for US$4.16 billion of the US$6.2 billion of stock priced, according to data compiled by Bloomberg.
The biggest share sale was the S$1.6 billion raised by Mapletree Greater China Commercial Trust, a REIT that owns assets including the Festival Walk shopping mall in Hong Kong and an office complex in Beijing.
The citystate lists 23 REITs and is the largest REIT market in Asia ex-Japan. Singapore-listed REITs have a combined market capitalisation of S$52.0 billion. Together the 23 REITs provide a diverse mix of local and international property assets that house industrial, commercial, retail, residential and specialised tenants.
More good news coming?
- wong chee tat :)
OUE's hospitality trust IPO priced at bottom of range
OUE's hospitality trust IPO priced at bottom of range
By Wong Siew Ying
POSTED: 18 Jul 2013 5:47 PM
Hotel and property group Overseas Union Enterprise (OUE) will raise about S$600 million in an initial public offering (IPO) of its hospitality trust.
SINGAPORE: Hotel and property group Overseas Union Enterprise (OUE) will raise about S$600 million in an initial public offering (IPO) of its hospitality trust.
OUE Hospitality Trust plans to sell its units at 88 Singapore cents each which is at the bottom of its indicative range.
This comes a day after Singapore Press Holdings priced an IPO of its retail-centric REIT.
OUE said the offer price translates to a projected yield of 7.46 per cent for 2014.
OUE Hospitality Trust's initial asset portfolio will comprise retail mall Mandarin Gallery and hotel Mandarin Orchard Singapore.
The developer is selling about 434.6 million units to institutional and retail investors.
Another 247.2 million units are set aside for five cornerstone investors.
The IPO will be launched at 6pm on July 18.
OUE said the public offer closes on July 23 and trading is expected to start on July 25.
- CNA/fa
- wong chee tat :)
By Wong Siew Ying
POSTED: 18 Jul 2013 5:47 PM
Hotel and property group Overseas Union Enterprise (OUE) will raise about S$600 million in an initial public offering (IPO) of its hospitality trust.
SINGAPORE: Hotel and property group Overseas Union Enterprise (OUE) will raise about S$600 million in an initial public offering (IPO) of its hospitality trust.
OUE Hospitality Trust plans to sell its units at 88 Singapore cents each which is at the bottom of its indicative range.
This comes a day after Singapore Press Holdings priced an IPO of its retail-centric REIT.
OUE said the offer price translates to a projected yield of 7.46 per cent for 2014.
OUE Hospitality Trust's initial asset portfolio will comprise retail mall Mandarin Gallery and hotel Mandarin Orchard Singapore.
The developer is selling about 434.6 million units to institutional and retail investors.
Another 247.2 million units are set aside for five cornerstone investors.
The IPO will be launched at 6pm on July 18.
OUE said the public offer closes on July 23 and trading is expected to start on July 25.
- CNA/fa
- wong chee tat :)
Wednesday, July 17, 2013
SPH Prices REIT IPO at S$0.90 per Unit
SPH Prices REIT IPO at S$0.90 per Unit
by Admin on Jul 17, 2013 • 7:01 pm
by Ernie B. Calucag
Media group Singapore Press Holdings (SPH) has priced Wednesday its real estate investment trust (REIT) offering at S$0.90 per unit, at the top end of an indicative range of S$0.85-S$0.90 per unit.
SPH said the final price was settled after seeing strong institutional investor response during the bookbuilding process, amounting to approximately 42 times the number of units offered under the placement tranche.
The media group is expected to raise S$504.0 million on offering of 308.9 million units to institutional and public investors, and 251 million units to cornerstone investors such as Great Eastern Life Assurance Company, Hong Leong Asset Management and Morgan Stanley Investment Management Company.
At S$0.90 per unit, SPH REIT offers a yield of 5.58 per cent and 5.79 per cent for the forecast period 2H2013 and projection year 2014, respectively.
The SPH REIT’s assets will include the luxury Paragon mall in the prime shopping district of Orchard Road and the suburban Clementi Mall.
Paragon and Clementi Mall are valued at S$2.5 billion and S$570.5 million respectively by Knight Frank in February.
The retail tranche for the IPO opens on Wednesday and the listing will be on July 24.
Upon listing of SPH REIT, SPH will remain the single largest unitholder, with approximately 70 per cent stake. The group also plans to distribute a special dividend of S$0.18 to shareholders after the listing.
“The manager will take an active role in managing and enhancing SPH REIT’s properties,” SPH REIT said in the prospectus, adding that it will “assess acquisition opportunities in line with SPH REIT’s investment objective.”
Credit Suisse, DBS and Oversea-Chinese Banking Corp are joint bookrunners for SPH REIT, while CIMB and Nomura are co-lead managers.
More REIT IPOs
Another REIT offering is expected to be finalised in the days to come. Last week, Singapore property firm Overseas Union Enterprise Ltd (OUE) lodged its preliminary prospectus seeking to raise up to S$614.0 million.
According to the prospectus, OUE Hospitality Trust will offer 434,598,000 staple securities to the public and institutions. The offer includes 51.1 million staple securities for the retail investors while another 247,220,000 will go to cornerstone investors.
The listing will hope to raise up to S$614.0 million with an offer price expected to be between 88 S-cents and 90 S-cents per stapled security.
The trust will comprise a real estate investment trust and a business trust. OUE said it will initially inject two assets in the trust- the Mandarin Orchard hotel and the Mandarin Gallery mall along Orchard Road.
REITs raised S$3.4 billion or 68 per cent of the S$5.0 billion of stock sold in Singapore IPOs in the past 12 months, according to data compiled by Bloomberg.
The biggest share sale was the S$1.6 billion raised by Mapletree Greater China Commercial Trust, a REIT that owns assets including the Festival Walk shopping mall in Hong Kong and an office complex in Beijing.
The citystate lists 23 REITs and is the largest REIT market in Asia ex-Japan. Singapore-listed REITs have a combined market capitalisation of S$52.0 billion. Together the 23 REITs provide a diverse mix of local and international property assets that house industrial, commercial, retail, residential and specialised tenants.
More good news coming?
- wong chee tat :)
by Admin on Jul 17, 2013 • 7:01 pm
by Ernie B. Calucag
Media group Singapore Press Holdings (SPH) has priced Wednesday its real estate investment trust (REIT) offering at S$0.90 per unit, at the top end of an indicative range of S$0.85-S$0.90 per unit.
SPH said the final price was settled after seeing strong institutional investor response during the bookbuilding process, amounting to approximately 42 times the number of units offered under the placement tranche.
The media group is expected to raise S$504.0 million on offering of 308.9 million units to institutional and public investors, and 251 million units to cornerstone investors such as Great Eastern Life Assurance Company, Hong Leong Asset Management and Morgan Stanley Investment Management Company.
At S$0.90 per unit, SPH REIT offers a yield of 5.58 per cent and 5.79 per cent for the forecast period 2H2013 and projection year 2014, respectively.
The SPH REIT’s assets will include the luxury Paragon mall in the prime shopping district of Orchard Road and the suburban Clementi Mall.
Paragon and Clementi Mall are valued at S$2.5 billion and S$570.5 million respectively by Knight Frank in February.
The retail tranche for the IPO opens on Wednesday and the listing will be on July 24.
Upon listing of SPH REIT, SPH will remain the single largest unitholder, with approximately 70 per cent stake. The group also plans to distribute a special dividend of S$0.18 to shareholders after the listing.
“The manager will take an active role in managing and enhancing SPH REIT’s properties,” SPH REIT said in the prospectus, adding that it will “assess acquisition opportunities in line with SPH REIT’s investment objective.”
Credit Suisse, DBS and Oversea-Chinese Banking Corp are joint bookrunners for SPH REIT, while CIMB and Nomura are co-lead managers.
More REIT IPOs
Another REIT offering is expected to be finalised in the days to come. Last week, Singapore property firm Overseas Union Enterprise Ltd (OUE) lodged its preliminary prospectus seeking to raise up to S$614.0 million.
According to the prospectus, OUE Hospitality Trust will offer 434,598,000 staple securities to the public and institutions. The offer includes 51.1 million staple securities for the retail investors while another 247,220,000 will go to cornerstone investors.
The listing will hope to raise up to S$614.0 million with an offer price expected to be between 88 S-cents and 90 S-cents per stapled security.
The trust will comprise a real estate investment trust and a business trust. OUE said it will initially inject two assets in the trust- the Mandarin Orchard hotel and the Mandarin Gallery mall along Orchard Road.
REITs raised S$3.4 billion or 68 per cent of the S$5.0 billion of stock sold in Singapore IPOs in the past 12 months, according to data compiled by Bloomberg.
The biggest share sale was the S$1.6 billion raised by Mapletree Greater China Commercial Trust, a REIT that owns assets including the Festival Walk shopping mall in Hong Kong and an office complex in Beijing.
The citystate lists 23 REITs and is the largest REIT market in Asia ex-Japan. Singapore-listed REITs have a combined market capitalisation of S$52.0 billion. Together the 23 REITs provide a diverse mix of local and international property assets that house industrial, commercial, retail, residential and specialised tenants.
More good news coming?
- wong chee tat :)
SPH to raise S$504m in REIT IPO
SPH to raise S$504m in REIT IPO
By Wong Siew Ying
POSTED: 17 Jul 2013 2:10 PM
Singapore Press Holdings (SPH) will be raising S$504 million in an initial public offering of its retail-focused real-estate investment trust.
SINGAPORE: 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. It has an option to bump up the sale by up to 56 million units.
SPH REIT has secured five cornerstone investors such as Great Eastern Life Assurance Company, Hong Leong Asset Management and Morgan Stanley Investment Management Company who have committed S$226 million for 251 million units.
At 90 cents a unit, SPH REIT is offering a yield of 5.79 per cent based on its projections for 2014.
The trust's assets will include the Paragon mall in Orchard Road and the suburban Clementi Mall.
The public offer for the IPO opens on Wednesday and the listing will be on July 24.
SPH said indication of interest among institutional investors during the bookbuilding process amounted to 42 times the number of units offered under the placement tranche.
- CNA/ac/fa
- wong chee tat :)
By Wong Siew Ying
POSTED: 17 Jul 2013 2:10 PM
Singapore Press Holdings (SPH) will be raising S$504 million in an initial public offering of its retail-focused real-estate investment trust.
SINGAPORE: 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. It has an option to bump up the sale by up to 56 million units.
SPH REIT has secured five cornerstone investors such as Great Eastern Life Assurance Company, Hong Leong Asset Management and Morgan Stanley Investment Management Company who have committed S$226 million for 251 million units.
At 90 cents a unit, SPH REIT is offering a yield of 5.79 per cent based on its projections for 2014.
The trust's assets will include the Paragon mall in Orchard Road and the suburban Clementi Mall.
The public offer for the IPO opens on Wednesday and the listing will be on July 24.
SPH said indication of interest among institutional investors during the bookbuilding process amounted to 42 times the number of units offered under the placement tranche.
- CNA/ac/fa
- wong chee tat :)
Tuesday, July 16, 2013
SGX expecting healthy pipeline of IPOs for rest of 2013
SGX expecting healthy pipeline of IPOs for rest of 2013
By Linette Lim
POSTED: 16 Jul 2013 5:03 PM
The Singapore Exchange said it is looking at a healthy pipeline of initial public offerings for the rest of the year.
SINGAPORE: The Singapore Exchange (SGX) said it is looking at a healthy pipeline of initial public offerings (IPO) for the rest of the year.
Bankers said improving market sentiment is one key reason driving confidence among potential issuers.
OCBC said the most popular IPOs among investors will continue to be yield instruments like real estate investment trusts (REIT).
This is because interest rates are widely expected to remain low for this year at least.
Even as investors eagerly await the OUE and SPH Reit IPOs, SGX said there are listings from other business sectors coming on-stream.
Lawrence Wong, head of listings at SGX, said, explained: "Of course there are certain sectors that we are better at so we tend to attract more attention from these, like the offshore (companies), REITs and business trusts, our commodities and resources (listings). Now increasingly, we are seeing healthcare as well. In fact, the other trend we are bringing to see is actually consumer related."
- CNA/fa
- wong chee tat :)
By Linette Lim
POSTED: 16 Jul 2013 5:03 PM
The Singapore Exchange said it is looking at a healthy pipeline of initial public offerings for the rest of the year.
SINGAPORE: The Singapore Exchange (SGX) said it is looking at a healthy pipeline of initial public offerings (IPO) for the rest of the year.
Bankers said improving market sentiment is one key reason driving confidence among potential issuers.
OCBC said the most popular IPOs among investors will continue to be yield instruments like real estate investment trusts (REIT).
This is because interest rates are widely expected to remain low for this year at least.
Even as investors eagerly await the OUE and SPH Reit IPOs, SGX said there are listings from other business sectors coming on-stream.
Lawrence Wong, head of listings at SGX, said, explained: "Of course there are certain sectors that we are better at so we tend to attract more attention from these, like the offshore (companies), REITs and business trusts, our commodities and resources (listings). Now increasingly, we are seeing healthcare as well. In fact, the other trend we are bringing to see is actually consumer related."
- CNA/fa
- wong chee tat :)
Tuesday, May 28, 2013
Singapore Press to list two malls worth $2.4 bln in REIT IPO
Singapore Press to list two malls worth $2.4 bln in REIT IPO
ReutersReuters – Mon, May 27, 2013
SINGAPORE, May 27 (Reuters) - Singapore Press Holdings Ltd
(SPH) said on Monday it plans to list two shopping
malls valued at S$3.07 billion ($2.43 billion) via a real estate
investment trust (REIT) listing scheduled for July.
SPH plans to hold 70 percent of the units in SPH REIT, whose
assets are the Paragon shopping mall in the city-state's prime
Orchard shopping district and Clement Mall in a western suburb.
The Singapore publishing and property firm plans to
distribute 18 Singapore cents a share as a special dividend to
shareholders after the listing, it said in a statement.
Credit Suisse, DBS and Oversea-Chinese
Banking Corp are joint bookrunners for the IPO, IFR, a
Thomson Reuters publication, reported earlier.
($1 = 1.2644 Singapore dollars)
(Reporting by Rujun Shen; editing by Kevin Lim)
- wong chee tat :)
ReutersReuters – Mon, May 27, 2013
SINGAPORE, May 27 (Reuters) - Singapore Press Holdings Ltd
(SPH) said on Monday it plans to list two shopping
malls valued at S$3.07 billion ($2.43 billion) via a real estate
investment trust (REIT) listing scheduled for July.
SPH plans to hold 70 percent of the units in SPH REIT, whose
assets are the Paragon shopping mall in the city-state's prime
Orchard shopping district and Clement Mall in a western suburb.
The Singapore publishing and property firm plans to
distribute 18 Singapore cents a share as a special dividend to
shareholders after the listing, it said in a statement.
Credit Suisse, DBS and Oversea-Chinese
Banking Corp are joint bookrunners for the IPO, IFR, a
Thomson Reuters publication, reported earlier.
($1 = 1.2644 Singapore dollars)
(Reporting by Rujun Shen; editing by Kevin Lim)
- wong chee tat :)
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