2 new trusts look set to be listed in Singapore in the coming weeks - Croesus Retail Trust and Asian Pay Television Trust. These IPOs come on the back of a very successful Mapletree Greater China Commercial Trust that was listed on 7 March on the SGX Mainboard. They will become the 3rd and 4th Mainboard new members for 2013. Asian Pay Television will become the 2nd largest IPO of the year following MGCCT and is seeking to raise S$1.4billion in this huge equity offering.
Here's a fast and quick breakdown to what you need to know to catch onto the IPO bandwagon in the coming weeks.
- Croesus Retail Trust
- S$372 million capital to be raised
- 200 million to 250 million share units to be offered
- Indicative price of S$0.93/unit
- 8% yield in first year ending June 2013, 8.1% in subsequent
- 4 x Japanese retail malls in portfolio
- 11 cornerstone investors to subscribe to 164 million units (at least 65% of offered equity)
- Backed by Marubeni and Daiwa House Industry
- Expected public offer 3 May
- S$1.4 billion capital to be raised
- 8.25 - 9% yield for 2014
- It is an investment vehicle for Taiwan Broadband Communication, a pay-TV operator
- 8 cornerstone investors secured
- Expected public offer by end May
On the sidelines, it is also definitely an exciting period to come with the rumour that OUE is planning to spin-off its hospitality assets in Singapore for US$800million. That's a total of 3 pretty decent-sized listing up for grabs on the Singapore capital markets in a short period of time. Definitely looking forward to this period with excitement!
Anyway for newcomers to this IPO scene in Singapore, I suggest you take a look at the how this IPO application process works here. It is a short write-up that I compiled to ease the IPO process and clarify doubts.
Even if you are a seasoned-pro, there is another page on "SG IPO Statistics" that you may want to check out. It details 2012 to 2013 IPOs and their performance on first day launch as well as up to date.