Ascendas Hospitality Trust *Official* (SGX:Q1P)

[lzydata]

Ascendas Hospitality Trust IPO

SINGAPORE: Singapore is set to see the launch of its largest initial public offering (IPO) for the year, with Ascendas Hospitality Trust lodging its preliminary prospectus with the Monetary Authority of Singapore (MAS) to list on the SGX Mainboard.

The trust, which comprises a real estate investment trust and a business trust, plans to sell between 506 million and 530 million stapled securities in its IPO to raise between S$770 million about S$823 million. The trust seeks to price the IPO at between S$0.88 and S$0.94.

According to the preliminary prospectus, it has secured three cornerstone investors, one of which is hospitality chain Accor Asia Pacific.

Based on the minimum offering price, Accor has agreed to take up S$50 million worth of stapled securities.

The other two investors are Splendid Asia Macro Fund and Lianhe Investments Pte Ltd.

Ascendas Hospitality Trust has been forecast to yield between 7.4 per cent to 7.8 per cent in 2013 and 7.7 per cent to 8.0 per cent in 2014.

The trust will have an initial portfolio of 11 hotels located in major cities in Australia, China, Japan and South Korea.

Singapore business space developer Ascendas Group is the sponsor for the IPO.

Ascendas Hospitality Trust to launch S'pore IPO worth at least US$770m - Channel NewsAsia

 

[addict951]

This one can seriously consider pressing

 

[Wood4]

Must subscribe !

 

[Some-one]

This is pretty interesting.

 

[marandaz]

Trust within a Trust?

Trust-ception?

 

[Carnage]

Between this and the one by Far East, which one better?

 

[lGtayl]

Me and my boss considering this. Worth looking into it

 

[existence]

This one can seriously consider pressing

when can we press press?

 

[SpinFire]

Trust within a Trust?

Trust-ception?

Any fundamental analysis for this IPO? Probably can compare to CDLHT.

Issue Statistics

Sponsor: Ascendas Land International Pte Ltd

Issue Size: Up to 609,434,000 Units, representing c. S$573m / US$450m (including cornerstone)

Overallotment Option: c.15% of the issue units ex-Accor Asia Pacific

Implied Yield FY2013E: 7.4% – 7.8% (Annualized)

Implied Yield FY2014E: 7.7% – 8.0%

Offer Structure: Cornerstone Tranche – Up to 85,226,000 Units or c.14% of the offer representing c.S$75m / US$60m

Institutional Placement Tranche – Minimum of 378,439,000 Units or c.64% of the offer representing c.S$333m / US$260m

Public Offer Tranche – Up to 113,636,000 Units or c.19% of the offer representing c.S$100m / US$80m

Reserve Tranche – 14,000,000 Units or c.2% of the offer representing up to S$13m / US$10m

Cornerstone Investors: Accor Asia Pacific (S$50m), Charlie Chan Capital Partners (S$10m), Lianhe Investments (S$15m)

Total Shares Outstanding: 875,391,000 Units

Sponsor Stake Post-IPO: 30.4% – 32.5% of total shares outstanding

Prospectus link

 

[addict951]

Must see the assets-hotels are at which countries
if like cdlht all at SG and AU, then die die must press
if got some at those bankrupt or going-bk euro countries then I not so enthu liao

 

[lionelow]

think will press this too.

 

[SpeedingBullet]

this one is AU, KR, JPN, & Tiongkok.. need to see locales of the hotels. So far only see one Courtyard by Marriott, the rest I nv hear before

 

[Carnage]

this one is AU, KR, JPN, & Tiongkok.. need to see locales of the hotels. So far only see one Courtyard by Marriott, the rest I nv hear before

Wa got JPY and Tiongland, no need think already. Confirm PRESS!

 

[Joseph99]

when can start to apply ?

 

[ChilliCrab_]

7.4~8% yield!! $_$

The reviews of the hotels are also very positive.

how how?

 

[Carnage]

Mostly aussie based hotels.

The 1 with negative growth is in Japan but considering their tourism was down in 2011 due to the nuclear disaster, I expect this region to pickup again in 2012.

Mai tu liao! .94 also can wack. Better yield than CDLHT!

 

[digitalguy]

bro, is this a quarterly dividend counter?

 

[healthytrader]

semi-annual dividends counter

 

[bliz1984]

should apply via atm or broker?

broker
Cons - there will be a 1% brokerage charge as compared to atm.
Pro - there is a better chance of getting it compared to atm.

is it worth the extra charge?

any advice?

 

[evolute8]

Any indication of IPO price?