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Old 04-04-2019, 01:00 PM   #1
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Eagle Hospitality Trust IPO

Just come across this on Business Times, seems like an interesting IPO to look forward to, IPO should be mid Apr. Anyone can share more info on this?
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Old 04-04-2019, 02:57 PM   #2
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waiting for ascendas to ipo us asset

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Old 04-04-2019, 07:48 PM   #3
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US-based Eagle Hospitality Trust swoops in on Singapore listing
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Old 26-04-2019, 07:46 PM   #4
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Eagle Hospitality Trust lodges IPO prospectus

Eagle Hospitality Trust lodges IPO prospectus

https://sbr.com.sg/commercial-proper...ipo-prospectus



It plans to float its initial portfolio of 18 hotels across the US worth US$1.27b.

Eagle Hospitality Trust (EHT) lodged a prospectus for an initial public offering (IPO) in Singapore, an announcement revealed.

About 559.34 million shares at US$0.80-0.81 will be available in total for the offering. Cornerstone investors including DBS Bank, DBS Bank’s management clients, Gold Pot Developments, and Ji Qi have already subscribed to 139.50 million of shares.

EHT comprises a REIT and business trust. The Singapore-based EH-REIT has an initial portfolio with 18 full service properties, comprising nine Upper Upscale hotels, five Upscale hotels, and four Upper Midscale hotels with a total of 5,420 rooms and an aggregate valuation of US$1.27b. For its initial portfolio, it expects a yield of 8.1%-8.2% in 2020.

Some of the largest hotels that EH-REIT currently holds include Holiday Inn Resort Orlando Suites – Waterpark in Orlando, Florida with 777 rooms, and Crowne Plaza Dallas Near Galleria-Addison in Dallas, Texas with 428 rooms.

The REIT has spent US$174m of capex on the initial portfolio since 2013 and has refurbished 77.2% of it since 2018. Meanwhile, fixed rent accounts for 66% of rental income, whilst 71.3% of variable rent is based on gross operating revenue.

EHT also indicated that it has two pipeline assets with potential acquisition opportunities.

It is currently 51% owned by co-founder Howard Wu and 49% owned by co-founder Taylor Woods. Wu and Woods will own an aggregate stake of 18.3% in EHT after the IPO.

The trust has appointed DBS as its sole financial adviser and issue manager; DBS, Bank of America Merrill Lynch, UBS, and BNP Paribas as joint global coordinators; and DBS, BofAML, UBS, BNP Paribas, Deutsche Bank, and Jefferies as joint bookrunners and underwriters.
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Old 26-04-2019, 07:47 PM   #5
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Old 27-04-2019, 08:25 AM   #6
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Is this a better buy compare to the new ARA US Hospitality Property Trust IPO?

Why suddenly so many H "trust"? Can trust or not?
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Old 30-04-2019, 04:25 PM   #7
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Will Queen Mary depreciate in value over time?

Sea related trust assets like HPH, FLT, Rickmers are stinging memories to yield chasers.
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Old 30-04-2019, 04:25 PM   #8
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https://lbpost.com/business/queen-ma...tock-exchange/
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Old 01-05-2019, 05:29 PM   #9
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Any news when the IPO will be out?
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Old 17-05-2019, 03:26 PM   #10
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Eagle Hospitality Trust registers prospectus with MAS; to raise $620 mil from IPO

Eagle Hospitality Trust registers prospectus with MAS; to raise $620 mil from IPO

https://www.theedgesingapore.com/eag...se-620-mil-ipo

SINGAPORE (May 16): The trustee-managers of Eagle Hospitality Trust (EHT) have registered its prospectus with the Monetary Authority of Singapore in connection with the offering of 580.6 million stapled securities at the issue price of US$0.78 per stapled security to raise US$453 million ($620 million) in gross proceeds.

The offering of 580.6 million stapled securities comprises an international placement of 535.7 million stapled securities to investors, including institutional and other investors in Singapore; and an offering of 44.9 million stapled securities to the Singapore public.

Investors subscribing for stapled securities under the public offer will pay the offering price in Singapore dollars of $1.071.

EHT is a US hospitality specialist with an invested sponsor and a portfolio of full service hotels in the US markets. Its initial portfolio comprises 18 primarily freehold hotel properties located in the US, with a total of 5,420 rooms and an aggregate valuation of US$1.27 billion.

All but one of EHT’s hotels are branded by and operated under franchise agreements with the three largest global hotel franchisors – Marriott, Hilton and IHG.

Cornerstone investors including DBS Banks and Gold Pot Developments have entered into subscription agreements to subscribe for an aggregate of 144.9 million stapled securities, representing 16.7% of the total number of stapled securities in issue immediately after the listing.

EHT will distribute 100% of its annual distributable income for the period from the date of listing to the end of 2020, and thereafter, at least 90% of its annual distributable income.

Distributions will be made on a semi-annual basis, for each six-month period ending 30 June and 31 December.

Based on the offering price, this represents an annualised distribution yield of 8.2% for s019 and 8.4% for projection year 2020.

The sponsor of EHT is Urban Commons, LLC, a privately-held real estate investment and development firm that is active across a range of property types with a specific emphasis on hotels.

Urban Commons, founded in 2008 by Howard Wu and Taylor Woods, will hold a 15.2% stake in EHT upon listing.
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Old 17-05-2019, 05:05 PM   #11
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plenty of yield whores in singapore to satiate the demand
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Old 17-05-2019, 05:27 PM   #12
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Not as straight forward as local trust

The risk is completely different. There is economy risk and currency risk. Since it is staple security, the manager has flexibility to meet the yield but scarifying NAV.

For those conservative yield hunters, better let this run for one year and decide later
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Old 17-05-2019, 05:55 PM   #13
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Not as straight forward as local trust

The risk is completely different. There is economy risk and currency risk. Since it is staple security, the manager has flexibility to meet the yield but scarifying NAV.

For those conservative yield hunters, better let this run for one year and decide later
agree.....
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Old 17-05-2019, 08:11 PM   #14
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Now is the worst timing for IPO, just look at ARA US Hospitality already below IPO price. I wouldn't bother with this, probably can pick up at below IPO price after a couple days if you must get it.

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Old 24-05-2019, 06:35 AM   #15
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PUBLIC OFFER
At the close of the Public Offer at noon on 22 May 2019, excluding applications from connected persons (as defined in the Listing Manual) and persons mentioned in Rule 240 of the Listing Manual, there were a total of 1,528 valid applications for an aggregate of 18,308,100 Stapled Securities out of the 44,871,000 Stapled Securities available to the public for subscription under the Public Offer, resulting in an under-subscription of
26,562,900 Stapled Securities for which no applications were received. The subscription rate for the Public Offer is therefore approximately 0.4 times. The Joint Bookrunners and Underwriters (in consultation with the
Managers) have decided that an aggregate of 1,282,000 of the Stapled Securities not subscribed for in the Public Offer will be re-allocated to satisfy an indication of interest received pursuant to the Placement
Tranche, and the remaining 25,280,900 Stapled Securities not subscribed for in the Public Offer are being underwritten by the Joint Bookrunners and Underwriters pursuant to the terms of the Underwriting Agreement.


Last edited by cuntzbuster; 24-05-2019 at 06:37 AM..
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