articland05
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need W8 form ah...
so mafan dun bother liao
so mafan dun bother liao
Prime US Reit
- Thread starter starbugs
- Start date
homedriver
Master Member
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Most comment say not buy.
coyote
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Didn't subscribe Eagle and ARA at IPO. Bought ARA post IPO and now is looking at small profit.
I subscribed to Prime US reit at IPO... Hopefully it turns out well...
Balloting results out
https://links.sgx.com/FileOpen/Prim... - 190716.ashx?App=Announcement&FileID=570550
Demand seems quite poor!
Not vested.
https://links.sgx.com/FileOpen/Prim... - 190716.ashx?App=Announcement&FileID=570550
Demand seems quite poor!
Not vested.
How come they did not announce what was the subscription for the placement tranche? No idea what is the overall subscription rate...
Seems deliberate.
Subtracting these two numbers is 24,148,000 units. The number of shares for stabilizing is 22,727,000 units from the overallotment. Hence the overallotment is less than the extra units given to the retail investors, suggesting the placement tranche was not fully taken up.
Even then, my guess is they still did the retail balloting anyway to make the subscription look hot
NewInvestor
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Looks like the share price will be poor when it starts trading?
Prime US Reit sets public offer at 40.9m units, cites 'strong demand'
THE manager of Prime US Reit has set the number of units under the Singapore public offer at about 40.9 million units, above the minimum offer size of 16.76 million units.
KBS US Prime Property Management announced on Tuesday in a regulatory filing that 2,708 valid applications for over 42.3 million units of Prime US Reit were received from the Singapore public at the close of the offer at noon on July 15.
Given the "strong demand" from retail investors, the number of units for the public offer in Singapore has been fixed at about 40.9 million, it said, adding that this is above the minimum offer size of 16.7 million units for Singapore retail investors.
Those who applied for up to 100,000 units got full allotment, according to the statement.
It is the third US office Reit to list here after Manulife US Reit and Keppel-KBS US Reit, at a price unchanged from its initial guidance at US$0.88 per unit, representing a distribution yield of 7.4 per cent in 2019, and 7.6 per cent in 2020.
Prime US Reit has an initial portfolio comprising 11 Class A and freehold office properties with a total appraised value of US$1.2 billion. Its assets are located in nine high-growth office markets across the US - San Francisco Bay Area (Oakland), Salt Lake City, Denver, St Louis, Dallas, San Antonio, Philadelphia, Washington DC (suburban Maryland and Virginia), and Atlanta.
Trading of the units is expected to start on the mainboard at 2pm on July 19.
https://www.businesstimes.com.sg/stocks/prime-us-reit-sets-public-offer-at-409m-units-cites-strong-demand?xtor=CS3-24
Posted from PCWX using ALP-L29
THE manager of Prime US Reit has set the number of units under the Singapore public offer at about 40.9 million units, above the minimum offer size of 16.76 million units.
KBS US Prime Property Management announced on Tuesday in a regulatory filing that 2,708 valid applications for over 42.3 million units of Prime US Reit were received from the Singapore public at the close of the offer at noon on July 15.
Given the "strong demand" from retail investors, the number of units for the public offer in Singapore has been fixed at about 40.9 million, it said, adding that this is above the minimum offer size of 16.7 million units for Singapore retail investors.
Those who applied for up to 100,000 units got full allotment, according to the statement.
It is the third US office Reit to list here after Manulife US Reit and Keppel-KBS US Reit, at a price unchanged from its initial guidance at US$0.88 per unit, representing a distribution yield of 7.4 per cent in 2019, and 7.6 per cent in 2020.
Prime US Reit has an initial portfolio comprising 11 Class A and freehold office properties with a total appraised value of US$1.2 billion. Its assets are located in nine high-growth office markets across the US - San Francisco Bay Area (Oakland), Salt Lake City, Denver, St Louis, Dallas, San Antonio, Philadelphia, Washington DC (suburban Maryland and Virginia), and Atlanta.
Trading of the units is expected to start on the mainboard at 2pm on July 19.
https://www.businesstimes.com.sg/stocks/prime-us-reit-sets-public-offer-at-409m-units-cites-strong-demand?xtor=CS3-24
Posted from PCWX using ALP-L29
Shion
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Prime US Reit makes SGX debut at US$0.865, down 1.7% from offer price
Prime US Reit makes SGX debut at US$0.865, down 1.7% from offer price
https://www.straitstimes.com/busine...2-times-subscribed-ahead-of-listing-on-friday
SINGAPORE - Prime US Reit debuted on the Singapore Exchange (SGX) on Friday afternoon (July 19) at US$0.865 per unit, down 1.7 per cent or US$0.015 from its initial offer price of US$0.88. The counter was trading at US$0.87 as at 3.22 pm.
Earlier, before the market opened on Friday, the Reit's manager said it had received applications for 1.2 times number of units originally on offer, netting the Reit about U$346.2 million at a price of U$0.88 per unit if all units are allocated.
Prime US Reit has an initial portfolio of 11 Class A and freehold office properties across nine office markets in the US.
"The successful IPO of Prime US Reit is a testament to the market's confidence in our stable and resilient IPO portfolio that provides a unique geographically-diversified exposure to the growing US commercial real estate sector, as well as a strong potential for acquisition growth beyond the IPO portfolio through leveraging the established KBS platform," said Barbara Cambon, chief executive officer and chief investment officer of KBS US Prime Property Management Pte Ltd, the manager of Prime US Reit.
"As Asia's global Reits hub, we are delighted to welcome Prime US Reit to our growing family of Reits with international assets. This is our third pure-play US Reit listing this year, bringing the total number of US-focused Reits to five, which demonstrates rising investor interest in US real estate," said Mohamed Nasser Ismail, head of equity capital markets, SGX.
"The three US Reit IPOs on SGX this year have raised close to US$1.7 billion - making them the top three IPOs in Asean year-to-date by funds raised - with Prime US Reit raising the highest at US$612 million."
Prime US Reit is the third US office Reit to list here after Manulife US Reit and Keppel-KBS US Reit. Its listing brings the total number of SGX-listed Reits and property trusts to 45, with a combined market capitalisation of about $110 billion.
Together with real estate companies, the overall SGX real estate cluster has a combined market capitalisation of over $190 billion, said Mr Nasser.
Prime US Reit's public offer received applications for 42.4 million units versus the 40.9 million units that were on offer.
For the international placement tranche, applications for 351.1 million units were made, versus the original 294.3 million on offer.
Stabilising manager Merrill Lynch (Singapore) has over-alloted an additional 22.7 million units to the placement tranche, bringing the total units offered there to 317 million.
The over-allotment units will be borrowed from substantial shareholder KBS REIT Properties III LLC, which has been allocated 79.5 million units.
However, excluding the over-allotment units and interest from parties under rule 240 of the SGX's listing manual, which includes interested persons, interest received for the Prime US Reit was lower at 0.8 times of offer.
Including the over-allotment units, 127 million units were allocated to rule 240 parties.
Prime US Reit makes SGX debut at US$0.865, down 1.7% from offer price
https://www.straitstimes.com/busine...2-times-subscribed-ahead-of-listing-on-friday
SINGAPORE - Prime US Reit debuted on the Singapore Exchange (SGX) on Friday afternoon (July 19) at US$0.865 per unit, down 1.7 per cent or US$0.015 from its initial offer price of US$0.88. The counter was trading at US$0.87 as at 3.22 pm.
Earlier, before the market opened on Friday, the Reit's manager said it had received applications for 1.2 times number of units originally on offer, netting the Reit about U$346.2 million at a price of U$0.88 per unit if all units are allocated.
Prime US Reit has an initial portfolio of 11 Class A and freehold office properties across nine office markets in the US.
"The successful IPO of Prime US Reit is a testament to the market's confidence in our stable and resilient IPO portfolio that provides a unique geographically-diversified exposure to the growing US commercial real estate sector, as well as a strong potential for acquisition growth beyond the IPO portfolio through leveraging the established KBS platform," said Barbara Cambon, chief executive officer and chief investment officer of KBS US Prime Property Management Pte Ltd, the manager of Prime US Reit.
"As Asia's global Reits hub, we are delighted to welcome Prime US Reit to our growing family of Reits with international assets. This is our third pure-play US Reit listing this year, bringing the total number of US-focused Reits to five, which demonstrates rising investor interest in US real estate," said Mohamed Nasser Ismail, head of equity capital markets, SGX.
"The three US Reit IPOs on SGX this year have raised close to US$1.7 billion - making them the top three IPOs in Asean year-to-date by funds raised - with Prime US Reit raising the highest at US$612 million."
Prime US Reit is the third US office Reit to list here after Manulife US Reit and Keppel-KBS US Reit. Its listing brings the total number of SGX-listed Reits and property trusts to 45, with a combined market capitalisation of about $110 billion.
Together with real estate companies, the overall SGX real estate cluster has a combined market capitalisation of over $190 billion, said Mr Nasser.
Prime US Reit's public offer received applications for 42.4 million units versus the 40.9 million units that were on offer.
For the international placement tranche, applications for 351.1 million units were made, versus the original 294.3 million on offer.
Stabilising manager Merrill Lynch (Singapore) has over-alloted an additional 22.7 million units to the placement tranche, bringing the total units offered there to 317 million.
The over-allotment units will be borrowed from substantial shareholder KBS REIT Properties III LLC, which has been allocated 79.5 million units.
However, excluding the over-allotment units and interest from parties under rule 240 of the SGX's listing manual, which includes interested persons, interest received for the Prime US Reit was lower at 0.8 times of offer.
Including the over-allotment units, 127 million units were allocated to rule 240 parties.
coyote
Greater Supremacy Member
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- Sep 20, 2000
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Prime US reit is said to deliver 7.4% at year one translating to 6.512 US cents.
If you benchmarked to Manulife reit which also runs grade A offices and delivering 6.87% at current price.
Prime US reit would have to be at USD0.9479 to net 6.87% yield or 6.512 US cents. I guess there should be room for it to go above USD0.9...
Of course other concerns like potential right issue in long run could limit upside...
Wait to be seen...
If you benchmarked to Manulife reit which also runs grade A offices and delivering 6.87% at current price.
Prime US reit would have to be at USD0.9479 to net 6.87% yield or 6.512 US cents. I guess there should be room for it to go above USD0.9...
Of course other concerns like potential right issue in long run could limit upside...
Wait to be seen...
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