Daiwa House Logistics Trust (DHLT) has lodged its IPO prospectus on 19th Nov 2021, it is a REIT with the investment strategy of principally investing in a portfolio of income-producing logistics and industrial real estate assets located across Asia. As a data-minded guy, I would like to summarize the IPO prospectus info as per my normal review post, come with some snapshots from the IPO prospectus:
Basic
- Offering Price: S$ 0.80
- Offering Units: 244.438 million
- Indicative Dividend Yield: 3% for 2021; 6.5% for 2022
- NAV per Unit: S$ 0.76
- P/NAV:05
- Shares Outstanding: 675 million
- Market Cap: S$ 540 million
- Dividend Policy:Semi-Annually; Distribution would be 100% of distributable income from listing date to end 2022. Thereafter, would be at least 90% of distributable income.
Related Party Shareholding
- Sponsor:Daiwa House Industry Co., Ltd.
- Sponsor Shareholding: 10% or 14% subjected to whether over-allotment is exercised.
- Manager Shareholding: No Info, however, the manager has elected to receive 50.0% of the Base Fee and Performance Fee (if any) in the form of Units for 2021 and 2022.
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