Far East Hospitality のIPO価格は予定価格の上限価格に

各ブログランキングに参加しています。お役にたったら、ランキングアップにご協力くだされば大変助かります。ランキングボタンは記事の最後に設置しています。

まもなくシンガポール市場で上場する予定のホテルREITのFareast Hospitality　TrustのIPO時の価格は、予定価格の上限になりそうです。

先日、調達金額を引き上げる予定とのニュースがありましたが、需要は堅調で人気化している模様です。シンガポール市場では今年２番目の規模のIPOとなります。

シンガポールの観光客は想定を上回るペースで増加しており成長期待が高いことと、シンガポールREITの平均利回りが現状５．５％程度で、このREITは目論見書では６％の利回りを目標としているとのことから、機関投資家などから人気を集めている模様です。

同じホテルREITのCDL　Hospitalityの利回りが先週末で５％台前半ですので、成長期待と利回りの妙味から人気が出ているのかもしれませんが、個人的には上場したばかりの銘柄は情報が乏しいので様子を見たいと思います。

---

姉妹ブログ「得する海外WEBサイト」は、著作権侵害防止機能付き英文添削、GRE、GMAT対策e-Learning、格安海外航空券、世界中の雑誌が読める電子書籍サービスなど便利な海外WEBサイトに関するブログです。
こちらからご覧ください　→　「得する海外WEBサイト」

---

↓この記事がお役に立ったら、ポチっとお願いします。

にほんブログ村


人気ブログランキングへ






Far East Hospitality prices Singapore IPO at top end

SINGAPORE, Aug 15 (Reuters) - Singapore's Far East Hospitality Trust is set to raise $575 million in an initial public offering after pricing it at the top end of an indicative range, sources said, making it the city state's second-largest offering this year.

Far East, which owns hotels and serviced residences, drew strong demand from institutional investors attracted by its yield and exposure to Singapore's buoyant tourism sector.

"It's still a yield play in the market now. People are looking for something stable and anything beyond 5 percent looks attractive," said Ong Kian Lin, an analyst at Maybank Kim Eng Securities.

The trust plans to sell stapled securities at S$0.93 each, representing the top of an indicated S$0.86-S$0.93 range, two sources with direct knowledge of the matter said.

Stapled securities are two different types of securities sold together to investors as one.

Based on the offer price, Far East expects its distribution yield this year to be 6 percent, according to its prospectus. This compares with an average of 5.5 percent across Singapore real estate investment trusts.

The sector has risen 23.5 percent so far this year, outperforming the Straits Times Index's 15 percent gain, as investors seek stable income in the midst of huge market volatility.

Far East plans to sell 329.4 million stapled securities to institutional and public investors and a total of 376.3 million units to cornerstone investors, such as Aberdeen Asset Management and AIA Group.

The offering also has an over-allotment option of 65.9 million units.

It will be Singapore's second-largest offering this year after hospital operator IHH Healthcare , which listed in Singapore and Malaysia last month after raising $2.1 billion.



STRONG TOURISM

Far East Hospitality, which is backed by Singapore property developer Far East Organisation, has seven hotels including Orchard Parade in its portfolio and is expected to benefit from the city-state's buoyant tourism sector.

"Tourism in Singapore, although it is slowing down, is still expected to be stable," Ong said, adding he expects hotel occupancy to rise to 90 percent towards the end of the year, boosted by the Formula One Grand Prix in September and year-end holidays.

Hotel occupancy rates in Singapore averaged 86 percent in May and visitor arrivals in January-May were up 12 percent from a year earlier, according to the Singapore Tourism Board.

Some of Far East's assets, such as Orchard Parade, have room for upgrading works, which will improve the trust's overall distribution per unit in future, Ong said.

DBS, Goldman Sachs and HSBC are the joint financial advisers, global coordinators and issue managers for the listing.

↓この記事がお役に立ったら、ポチっとお願いします。

にほんブログ村


人気ブログランキングへ