News: SINGAPORE - New Century Real Estate Investment Trust has started taking orders from institutional investors for its initial public offering in Hong Kong that aims to raise close to HK$2 billion (S$328 million), Dow Jones Newswires reported on Thursday, citing a term sheet. New Century is seeking to price its IPO between HK$3.40 and HK$4.20 a unit, and is offering to pay a dividend yield of 6.5 to 7.8 per cent for this year, the term sheet showed. It is scheduled to list in Hong Kong on July 5. In a rare concession to falling yields in emerging markets, New Century is offering investors in its IPO the chance to lock in yields of 5 to 6 per cent for five years through a rent agreement guaranteed by its business partner Bank of China, a person with direct knowledge of the deal said on ......