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.