News: Singapore Press Holdings Ltd (SPRM.SI)
11 Dec 2013
SINGAPORE, July 17 - Singapore's IPO market got a boost after a property trust from Singapore Press Holdings Ltd priced at the top end of its indicative range on Wednesday, underscoring strong appetite for REITs from yield-hungry investors.
SINGAPORE, July 17 - Media group Singapore Press Holdings Ltd said it will raise S$504 million ($400 million) in a REIT offering after pricing the IPO at the top end of an indicative range of 85 to 90 Singapore cents per unit.
Singapore shares eased on Tuesday, with Singapore Press Holdings Ltd (SPH) among the biggest decliners after the media and property company posted weak core earnings for its third quarter.
Maybank Kim Eng downgraded Singapore Press Holdings Ltd (SPH) to "hold" from "buy" and cut its target price to S$4.50 from S$4.52, saying the media and property company's core business has continued to weaken.
Shares in Singapore Press Holdings rose as much as 1.6 percent to a three-week high after the company gave more details about the planned listing of a real estate investment trust.