OUE Hospitality Trust (“OUE HT” or the “Trust”) is offering a stapled unit of OUE H-REIT and OUE H-BT. The principal objective of the trust is to deliver regular and stable distributions to the holders. The preliminary prospectus can be found here.
The book building range is between $0.88 to $0.90 and the offer is for 681.818m units of which cornerstone will take 247.22m units, placement of 383.462m units and public offering of 51.136m units. The sponsor will still retain a 42.7% if all the green shoe option is exercised. (Not sure why need to book build such a small ‘range’?!) There will be an over-allotment option of up to 68.182m units.
The tentative time table is as follows:
Bookbuilding: 10 Jul – 17 Jul
Public offer: 18 Jul – 23 Jul
Listing: 25 Jul
The initial portfolio will …