SINGAPORE, July 30 Soilbuild Business Space
REIT, which owns seven business and industrial properties in
Singapore, plans to raise as much as S$469 million ($370.27
million) in an initial public offering, it said in a prospectus
Sponsored by property developer Soilbuild Group Holdings Ltd
, the REIT is offering 586.5 million units at a price
range of S$0.77-S$0.80 per unit, which translates to forecast
dividend yields of 7.3-7.6 percent for 2013 and 7.5-7.8 percent
Bookbuilding will be conducted from July 31 to Aug. 6 with
the listing targeted for Aug. 16, according to IFR, a Thomson
The IPO has an institutional tranche of 499 million units
and a public portion of 87.5 million units. There is an
overallotment option of 56.3 million units, or 9.6 percent of
the total offer. There is no cornerstone tranche.
Citigroup, DBS and OCBC are the joint global co-ordinators.
Religare Capital and United Overseas Bank are co-managers.
($1 = 1.2667 Singapore dollars)
(Reporting by S. Anuradha and Rujun Shen; Editing by Matt