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SPH Reit
By Mr. IPO  •  July 17, 2013

SPH Reit launched its IPO at the top end of the book-building range of $0.90 and the placement tranche was a whopping 42x oversubscribed and i have to admit i am surprised by this 'overwhelming' demand which unfortunately depressed the yield and potential upside.

My preview post on 11 July 2013 is here and the final prospectus is here. I will not repeat what i had said in my earlier preview post but will highlight what i think will be interesting to readers. (Can someone email me the SPH REIT booth at Raffles Place if they see one?)

Issue details

Placement tranche: 224.902m Units
Public tranche: 83.982m Units
Cornerstone:  251m Units
Application closing date:  22 July 2013 12pm
Listing date: 24 July 2013 2pm
First distribution: On or before 27 Feb 2014


Forecast yield

At $0.90, SPH Reit will distribute a forecasted annualized yield of ...
...
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By Mr. IPO
Mr. IPO graduated from NTU with a Bachelor in Accountancy (Honors) and started life as a lowly auditor. The audit experience not only polished up his accounting skills but also made him very skeptical about the financial records of companies. He always read the financial reports with a huge dose of salt ...
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