Saturday, July 13, 2013

SPH REIT vs OUE hospitality trust

The IPO for SPH reit and OUE hospitality are both scheduled for IPO next week. I have summarized some key points for the 2 IPOs for easy reference:

SPH REIT OUE Hospitality trust
Price $0.85- $0.90 $0.88 to $0.90
Tentative timetable Institutional book building: 10-16 July
Pricing and allocation: 17 July
Public offer: 17-22 July (12pm)
Listing: 24 July
Bookbuilding: 10 Jul - 17 Jul
Public offer: 18 Jul - 23 Jul
Listing: 25 Jul
Initial portfolio Paragon Mall
Clementi Mall
(99 year lease)
Mandarin Orchard
Mandarin Gallery
(43 year lease remaining)
Property type Retail Hospitality
Yield 2H FY2013 Forecast: 5.58 - 5.79% annualised yield from listing date:
7.20 - 7.36%
Future pipeline Seletar mall Acquisition pipeline through the Sponsor ROFR Properties
Crowne Plaza Changi Airport
Meritus Mandarin Haikou (China)
Meritus Shantou (China)
Cornerstone investor
  • Great Eastern Life Assurance Company
  • Hong Leong Asset Management Bhd
  • Morgan Stanley Investment Management Company
  • Newton INvestment Management
  • Norges Bank
  • Credit Suisse AG
  • Goldhill
  • Mr Gordon Tang
  • Lucille Holdings P L
  • Splendid Asia Macro Fund
Other notes SPH still retains a 70% interest in the SPH REIT This is a stapled security of OUE hospitality  REIT and OUE hospitality business trust

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