Saizen REIT has launched its IPO in Singapore, making it the first Japanese residential real estate investment trust to be listed in the city-state. Saizen REIT is offering nearly 197 million units at S$1 a unit to raise S$197 million. These include an international placement of 178 million units and over 18 million units to the public.
Based on the offering price, the annualised distribution yield amounts to approximately 6.51%.
The IPO closes on November 5. Trading is expected to begin four days later.- CNA /ls
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Saizen Reit expects to raise $197m
SAIZEN Real Estate Investment Trust, based on Japanese property assets, said yesterday that it would raise $197 million after it priced its Singapore offering at $1 a share, the lower end of an indicative range.
It said the trust would offer a forecast yield of 6.5 per cent in 2008 and will start trading on Nov 9. -- Reuters
Source : The Business Times, October 30, 2007
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