Soildbuild Business Space REIT launched its IPO yesterday at a final price of $0.78. The prospectus is here.
The IPO time table as as follows:
My preview post was here and i have nothing to add except that it is good to see it being priced at 78c. It should have a few cents upside but don't expect more as this is after-all a yield play.
Valuation
At least at 78c, investors are buying the properties at slightly below the more conservative valuation from CBRE, which in my view, is good and leave some money on the table for investors.
Mr IPO's ratings
I will be vested with some shares and will probably apply for some at the ATM. No change to my fair value range and the Chilli ratings.
Happy IPOing.
