IPO   

IPO-ing. what U should look out for...

Lendlease Global Commercial Reit' s (real estate investment trust) initial public offering (IPO) has ended with its public offering 14.5 times subscribed, the Reit' s manager announced on Tuesday night.

Its units are expected to start trading on the Singapore Exchange' s Mainboard at 2pm on Oct 2.

Lendlease had offered 387.5 million units at S$0.88 each.  Of this, 22.7 million units were offered to the public, with 13,640 valid applications for 330.4 million units received. The subscription rate of 14.5 times was the highest for a Singapore Reit in the last five years, said the manager.

Indications of interest received for the placement tranche of 364.7 million units translated to a subscription rate of 9.9 times, with 13 million reserved units fully allocated.

 

Lendlease Global Commercial Reit is offering 387,474,987m IPO@$0.88. IPO closed 30-Sep-19 @12pm and start trading on 2 Oct 2019 at 2pm....😭 Share units for public tranche is only 22.727m (meaning just $20m in value). Based on IPO price,.....mkt cap will be S$1.56 billion.

 

Lendlease reit does well - all other REITs will be pulled up as well. Reit is the one sector that is still dazzling hot.

 

There have been so many write-ups over this IPO these few days,... I think I' ll take a chance that the price may go up after this, and buy during Rights Issue later on,.. or during Private Placements,....

TANPK123      ( Date: 22-Sep-2019 23:26) Posted: Hi investor. Do u guys think this worth to get? Any recommendations? teeth53      ( Date: 22-Sep-2019 13:42) Posted: https://financialhorse.com/lendlease-global-commercial-reit-ipo-review/ Australian based group LendLease will be looking to a placement and public offer of  387 million units. The IPO price is set at  S$0.88 Lendlease Global Commercial REIT holds 2 assets,  313@Somerset  in Singapore, and Sky Complex in Italy. The allocation is set out below, so it&rsquo s about 71.5% Singapore, and 28.5% Italy. Comparble indicative yield for Lendlease Global Commercial REIT is 5.8% in FY2020, and 6.0% in FY2021, while NAV is $0.8134.  Based on offering price benchmarked Lendlease Global Commercial REIT to some other comparable retail REITs in Singapore REIT Price to Book Yield Lendlease Global Commercial REIT 1.08 5.8-6.0% Starhill Global REIT 0.84 5.88 SPH REIT 1.16 5.1% CMT 1.5 4.4% MCT 1.43 4.0% teeth53 info sharing (Thought). This IPO offering may only for mid to long term share holder' s interest, not for short term trading.

 

Hi investor. Do u guys think this worth to get? Any recommendations?

teeth53      ( Date: 22-Sep-2019 13:42) Posted: https://financialhorse.com/lendlease-global-commercial-reit-ipo-review/ Australian based group LendLease will be looking to a placement and public offer of  387 million units. The IPO price is set at  S$0.88 Lendlease Global Commercial REIT holds 2 assets,  313@Somerset  in Singapore, and Sky Complex in Italy. The allocation is set out below, so it&rsquo s about 71.5% Singapore, and 28.5% Italy. Comparble indicative yield for Lendlease Global Commercial REIT is 5.8% in FY2020, and 6.0% in FY2021, while NAV is $0.8134.  Based on offering price benchmarked Lendlease Global Commercial REIT to some other comparable retail REITs in Singapore REIT Price to Book Yield Lendlease Global Commercial REIT 1.08 5.8-6.0% Starhill Global REIT 0.84 5.88 SPH REIT 1.16 5.1% CMT 1.5 4.4% MCT 1.43 4.0% teeth53 info sharing (Thought). This IPO offering may only for mid to long term share holder' s interest, not for short term trading.

 

Manulife US REIT: Private Placement Of 91.3 Million New Units 7 Times Covered At US$0.876

Private Placement was more than 7 times covered at the top end of the Private Placement Issue Price Range and saw strong participation from new and existing institutional and other accredited investors. The issue price per New Unit under the Private Placement has been fixed at US$0.876 per New Unit. The issue price per New Unit under the Preferential Offering has been fixed at US$0.860 per New ... Just for info sharing....Only.

 

https://financialhorse.com/lendlease-global-commercial-reit-ipo-review/

Australian based group LendLease will be looking to a placement and public offer of  387 million units.

The IPO price is set at  S$0.88 Lendlease Global Commercial REIT holds 2 assets,  313@Somerset  in Singapore, and Sky Complex in Italy. The allocation is set out below, so it&rsquo s about 71.5% Singapore, and 28.5% Italy.

Comparble indicative yield for Lendlease Global Commercial REIT is 5.8% in FY2020, and 6.0% in FY2021, while NAV is $0.8134.  Based on offering price benchmarked Lendlease Global Commercial REIT to some other comparable retail REITs in Singapore

REIT	Price to Book	Yield
Lendlease Global Commercial REIT	1.08	5.8-6.0%
Starhill Global REIT	0.84	5.88
SPH REIT	1.16	5.1%
CMT	1.5	4.4%
MCT	1.43	4.0%

teeth53 info sharing (Thought). This IPO offering may only for mid to long term share holder' s interest, not for short term trading.


 

 

Being headquartered in Sydney, Australia, will this sponsor be injecting mostly Aussie properties into this REIT ? If it will, then we have currency risks as the dividend is paid out in SGD. Secondly, as usual,... will there be an equity fund raising (EFR) in future as with most overseas-based sponsors listing their REITs in our SGX ?

Thirdly,... well,... I' m not happy with the twice a year dpu payout ! Better to buy our Mapletree and Frasers REITs with 4x a year payouts !!!

teeth53      ( Date: 16-Sep-2019 23:13) Posted: Sydney-headquartered Lendlease Global has lodged a prospectus to list a new Reit (real estate investment trust), Lendlease Global Commercial Reit, on the Singapore Exchange' s (SGX) main board. About 387.5 million units at $0.88 per unit will be offered under the initial public offering (IPO) and a placement tranche. The Reit' s manager, Lendlease Global Commercial Trust Management Pte Ltd, intends to raise gross proceeds of about $1.03 billion, which will pay for the costs of the IPO, the acquisition of the properties and working capital. The Reit will initially consist of leasehold retail mall  313@somerset  in Singapore and freehold office property Sky Complex, which comprises three office buildings in Milan, Italy. The Reit' s portfolio has an appraised value of about $1.41 billion.   Based on the Reit' s unaudited pro forma balance sheet, net asset value per unit as at the proposed listing date will be $0.8134. Net property income is projected at $47.9 million for 2020, and $65.8 million for 2021. Projected distributable income is forecast at $44.9 million for 2020 and $62.7 million for 2021. The Reit' s distribution per unit is is forecast to be 3.82 cents with distribution yield at 5.8 per cent for 2020. Public offer opens on Sept 25 at 9pm and closes on Sept 30 at 12pm, with the Reit expected to list on Oct 2. The minimum initial subscription for applications is 1,000 units. Placement tranche units are offered through an international placement including Singapore and excluding the US. DBS Bank and Citigroup Global Markets Singapore Pte Ltd are the joint global coordinators, bookrunners and underwriters. Cornerstone -- cornerstone investors AEW Asia Pte Ltd, Asdew Acquisitions Pte Ltd, BlackRock Inc, DBS Bank Ltd, DBS Vickers Securities (Singapore) Pte Ltd, Fullerton Fund Management Company Ltd, Lion Global Investors Limited, Moon Capital Management LP, Nikko Asset Management Asia Limited, Principal Asset Management (S) Pte Ltd (formerly known as CIMB-Principal Asset Management), Soon Lee Land Pte Ltd, The Segantii Asia-Pacific Equity Multi-Strategy Fund and TMB Asset Management Co Ltd. They will subscribe for about 453.8 million units at the offer price, for a total of about $399.3 million. Separately, Lendlease SREIT Pty Limited, in its capacity as trustee of LLT Sub-Trust, an indirectly wholly owned sub-trust of Lendlease Trust, will subscribe for 318.1 million units at the offer price for a total of about $280 million. This will be equal to 27.2 per cent of the total number of units in issue as at the proposed listing date of Oct 2. The Lendlease Group is an international property and infrastructure group, with operations in Australia, Asia, Europe and the Americas. It has a portfolio of 21 urbanisation projects across 10 cities including Singapore, Sydney, Melbourne, Kuala Lumpur and Milan. In July 2019, the Lendlease Group secured a project to develop three mixed-use communities in the San Francisco Bay Area in conjunction with Google.

 

Sydney-headquartered Lendlease Global has lodged a prospectus to list a new Reit (real estate investment trust), Lendlease Global Commercial Reit, on the Singapore Exchange' s (SGX) main board.

About 387.5 million units at $0.88 per unit will be offered under the initial public offering (IPO) and a placement tranche. The Reit' s manager, Lendlease Global Commercial Trust Management Pte Ltd, intends to raise gross proceeds of about $1.03 billion, which will pay for the costs of the IPO, the acquisition of the properties and working capital.

The Reit will initially consist of leasehold retail mall  313@somerset  in Singapore and freehold office property Sky Complex, which comprises three office buildings in Milan, Italy. The Reit' s portfolio has an appraised value of about $1.41 billion.
 

Based on the Reit' s unaudited pro forma balance sheet, net asset value per unit as at the proposed listing date will be $0.8134. Net property income is projected at $47.9 million for 2020, and $65.8 million for 2021.

Projected distributable income is forecast at $44.9 million for 2020 and $62.7 million for 2021. The Reit' s distribution per unit is is forecast to be 3.82 cents with distribution yield at 5.8 per cent for 2020.

Public offer opens on Sept 25 at 9pm and closes on Sept 30 at 12pm, with the Reit expected to list on Oct 2. The minimum initial subscription for applications is 1,000 units. Placement tranche units are offered through an international placement including Singapore and excluding the US.

DBS Bank and Citigroup Global Markets Singapore Pte Ltd are the joint global coordinators, bookrunners and underwriters.

Cornerstone -- cornerstone investors AEW Asia Pte Ltd, Asdew Acquisitions Pte Ltd, BlackRock Inc, DBS Bank Ltd, DBS Vickers Securities (Singapore) Pte Ltd, Fullerton Fund Management Company Ltd, Lion Global Investors Limited, Moon Capital Management LP, Nikko Asset Management Asia Limited, Principal Asset Management (S) Pte Ltd (formerly known as CIMB-Principal Asset Management), Soon Lee Land Pte Ltd, The Segantii Asia-Pacific Equity Multi-Strategy Fund and TMB Asset Management Co Ltd.

They will subscribe for about 453.8 million units at the offer price, for a total of about $399.3 million.

Separately, Lendlease SREIT Pty Limited, in its capacity as trustee of LLT Sub-Trust, an indirectly wholly owned sub-trust of Lendlease Trust, will subscribe for 318.1 million units at the offer price for a total of about $280 million. This will be equal to 27.2 per cent of the total number of units in issue as at the proposed listing date of Oct 2.

The Lendlease Group is an international property and infrastructure group, with operations in Australia, Asia, Europe and the Americas.

It has a portfolio of 21 urbanisation projects across 10 cities including Singapore, Sydney, Melbourne, Kuala Lumpur and Milan.

In July 2019, the Lendlease Group secured a project to develop three mixed-use communities in the San Francisco Bay Area in conjunction with Google.

 

Hong Kong?s stk mkt faces drought in IPO'?s as valuations plunge to the lowest in Asia. Hong Kong?s average price to earnings ratio is at its lowest in recent years Many companies that have filed for listings in city have put IPO plans on hold

 

Due to on going U.S. / China trade war. --- Belgium-based Anheuser-Busch picked an in-opportune time to tap the financial mkts......Hong Kong is still bleeding from political instability n reeling from aftermath of a controversial extradition bill.

teeth53      ( Date: 14-Jul-2019 22:48) Posted: Decision came after the unit Budweiser Brewing Company APAC failed to price its IPO, it expected it offered@lower end --- between HK$40 and HK$47 per share, according to a person familiar with the IPO, and a fund manager briefed by bookrunners of the deal. teeth53      ( Date: 14-Jul-2019 22:45) Posted: Anheuser-Busch scraps its US$9.8 bil IPO for Budweiser in Hong Kong for 2019.

 

Decision came after the unit Budweiser Brewing Company APAC failed to price its IPO, it expected it offered@lower end --- between HK$40 and HK$47 per share, according to a person familiar with the IPO, and a fund manager briefed by bookrunners of the deal.

teeth53      ( Date: 14-Jul-2019 22:45) Posted: Anheuser-Busch scraps its US$9.8 bil IPO for Budweiser in Hong Kong for 2019.

 

Anheuser-Busch scraps its US$9.8 bil IPO for Budweiser in Hong Kong for 2019.

 

Alliance HC is 1.5x over subscribed.
Public shr balloting results. Successful applicants 130 pax 
Range applied        Ratio      Shr(' 000)          (%)          Nos of successful applicants
1                              12:50      1            1.2%      12pax
2          to        9      13:50      1            3.3%      33pax
10        to      49      14:50      5          28.0%      56pax
50        to      99      15:50    15          22.5%      15pax
100      to    499        16:50    26          31.2%      12pax
500      to    999      17:50      48            4.8%      1pax
1,000 and  above      18:50    90          9.0 %    1pax   

teeth53      ( Date: 26-May-2019 10:28) Posted: ALLIANCE Healthcare Group offering 32m shares IPO-ing@S$0.20 per share for a Catalist listing on SGX Exch. Placement: 31 million. Public:  one million, new shares represented 15.4% of the coy&rsquo s share capital post Initial Public Offering (IPO). Alpine Investment Holdings - a vehicle held by CEO Barry Thng Lip Mong, Loh Cher Zoong, Goh Tiong Jin and Yun Kok Onn - will have a stake of 64.2% in the company&rsquo s post-invitation share capital.  @$0.20c It market capitalisation works out to about S$41.6 million. The group does not have a fixed dividend policy, the board of directors intends to recommend and distribute dividends@least 30% of its net profits after tax (excluding exceptional items) for FY 2020 and FY 2021. Net proceeds of S$4.5 million will be used for the expansion of its network of clinics and medical facilities, acquisitions, joint ventures and/or strategic alliances as well as investing into technology systems and expanding its pharmaceutical services business. Offering Close@noon on May 29.  Alliance&rsquo s shares expected trading@9 am on May 31.

 

Dunt compare this with Thomson Medical ok. LOL

ahhuat08      ( Date: 27-May-2019 15:18) Posted: Got the prospectus, eps 1.48 cts, Based upon ipo price of 20 cts. PE will b around 13.8.. SingMed, a more established is 14.71. And the most established one is RMG which has a PE of 26.5, So based upon pe of 15, the upside will be the most 2 cts, ie 22 cts. This is a rough calculation, and it could be very far off. Just serve as a guideline, i think i will give it a miss, maybe wait for pe to say below 10 den consider.

 

Got the prospectus, eps 1.48 cts,

Based upon ipo price of 20 cts.

PE will b around 13.8..

SingMed, a more established is 14.71.

And the most established one is RMG which has a PE of 26.5,

So based upon pe of 15, the upside will be the most 2 cts, ie 22 cts.

This is a rough calculation, and it could be very far off. Just serve as a guideline, i think i will give it a miss, maybe wait for pe to say below 10 den consider.

 

Cant even find the ipo prospectus for alliance healthcare, how to buy?

 

marketcertain.....

anytime open below IPO price

Subaru2018      ( Date: 26-May-2019 17:43) Posted: Only 1 mil for public ,  very obvious.

 

Only 1 mil for public ,  very obvious. 

 

ALLIANCE Healthcare Group offering 32m shares IPO-ing@S$0.20 per share for a Catalist listing on SGX Exch.

Placement: 31 million. Public:  one million, new shares represented 15.4% of the coy&rsquo s share capital post Initial Public Offering (IPO).

Alpine Investment Holdings - a vehicle held by CEO Barry Thng Lip Mong, Loh Cher Zoong, Goh Tiong Jin and Yun Kok Onn - will have a stake of 64.2% in the company&rsquo s post-invitation share capital.  @$0.20c It market capitalisation works out to about S$41.6 million.

The group does not have a fixed dividend policy, the board of directors intends to recommend and distribute dividends@least 30% of its net profits after tax (excluding exceptional items) for FY 2020 and FY 2021.

Net proceeds of S$4.5 million will be used for the expansion of its network of clinics and medical facilities, acquisitions, joint ventures and/or strategic alliances as well as investing into technology systems and expanding its pharmaceutical services business.

Offering Close@noon on May 29.  Alliance&rsquo s shares expected trading@9 am on May 31.