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The Assembly Place - Balloting Results

This is probably one of the most usual press releases that went alongside the SGX announcement of the balloting results. The Company released a full presentation deck , which is actually quite informative, with information of upcoming pipeline etc (probably the Company felt that it is safer to release this after the IPO closes and not before). The balloting table is as follows: The IPO has drawn strong interest from prominent institutional funds such as Avanda Investment Management (as investment manager for and on behalf of its fund(s)) and Lion Global Investors Limited (as investment manager for and on behalf of its clients), along with prominent investors, including Mr Han Seng Juan, Mr Rudolf Jurgen August Rolles and Mr Chong Soon Kong @ Chi Suim2 , underscoring strong confidence in TAP's investment proposition. Separate from the Invitation, cornerstone investors, namely Apricot Capital Pte. Ltd., Asdew Acquisitions Pte. Ltd., Cache Capital Pte. Ltd., ICH Synergrowth Fun...
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Ascendas India Trust


(IPO booth at Raffles Place with Indian flavour)

a-itrust is Singapore's first listed indian property trust and this issue is priced at the top end of its indicative range due to strong demand from institutions. The offering price is $1.18 per unit. The prospectus is here.

Offering size: 423,377,249 units (will increase to 465,714,974 units if over-allotment exercised)
Public offer: 31,281,000 units
IPO Price: S$1.18 per unit
Yield at IPO price: 4.75% (FY 31 March 2008) & 5.81% (FY 31 March 2009)
Closing date: 30 July 2007, 7am.
Distribution is made semi-annually
Financial Adviser: JP Morgan


Together with China, India is one of the twin growth engines of Asia and this trust allows you to participate in the unique growth opportunity in India. The dividend yield is projected to increase from 4.75% to 5.81%. This REIT allows investors to have exposure in India with good potential for capital gains and a stable income. If you currently holding "Singapore based only" Reit, you may want to switch part of your portfolio into this Indian REITs for portfolio and geographical risk diversification. Assuming an yield compression to 4% based on FY08 and FY09, the fair value range will be between $1.40 to $1.72.

Just a note that if you have received the units from the placement tranche, you can still make ONE application for the public offer. See Appendix F-2 Note (5) in the prospectus. Happy investing. Vested.
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Anonymous said…
Come Visit

singaporereits.blogspot.com
31 July 2007 at 00:18
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