THE NEXT IPO TO LAY YOUR HANDS ON :D

• shade343

  28 Jul 05, 13:59

  PACIFIC STAR PRIME REIT
  
  SINGAPORE Ergo Versicherungsgruppe, Germany's second-largest insurer, is preparing to raise about 500 million Singapore dollars by selling shares in a real estate investment trust next month, the manager of the trust said Wednesday.
  
  "Our listing is anticipated to be around mid-August," said Franklin Heng, chief executive of Pacific Star Prime REIT Management. The share sale target is equivalent to $295 million.
  
  Prime REIT, the seventh property trust to sell shares in Singapore since July 2002, owns about $1.3 billion of retail and office properties in the city's main shopping district of Orchard Road, DBS Vickers Securities (Singapore), one of the sale's arrangers, said in a report to investors.
  
  The trust is promoting high occupancy and stable rental rates in the Orchard Road retail district to attract investors seeking low-risk opportunities with steady returns, according to the report. Property trusts pay dividends from rental income.
  
  DBS Vickers, Deutsche, J.P. Morgan Chase and Macquarie Bank are managing the sale, Heng said.
  
  Macquarie Bank, Australia's biggest investment bank, has the option to buy a 50 percent stake in the manager of the trust and the property manager, Pacific Star Property Management, within six months from the day the shares are listed, DBS Vickers said.
  
  Macquarie Bank Group manages 12 listed property trusts in four countries.
  
  The manager of Prime REIT will earn an annual base fee of 0.5 percent of the value of the assets and a maximum performance fee of 0.3 percent, DBS Vickers said.
  
  The trust and property managers are each 50 percent owned by Ergo Trust, a wholly owned unit of Ergo, which managed assets worth €13.8 billion, or $16.4 billion, at the end of 2004, according to the report.
  
  Investmore Enterprises, an investment holding company incorporated in the British Virgin Islands, owns the rest of the managers, the report said.
  
  Prime REIT is also counting on a recovery in Singapore's office sector to attract investors to the share offer, said DBS Vickers, a unit of DBS Group Holdings, Singapore's biggest bank by assets.
  
  The trust hopes to benefit from the Singapore government's efforts to upgrade the Orchard Road area and double annual tourist arrivals to 17 million.
• shade343

  17 Aug 05, 20:20

  Prime REIT to raise S$924m through SGX listing
  
  SINGAPORE : Prime REIT is planning to raise about S$924 million from its initial public offering scheduled for mid-September.
  
  It has lodged its preliminary prospectus with the Monetary Authority of Singapore for a listing on the Singapore Exchange mainboard.
  
  Prime REIT - managed by a unit of the German insurer Ergo - is offering about 943 million units at between 93 and 98 Singapore cents each.
  
  The REIT will initially invest in and own the Wisma Atria shopping mall.
  
  Prime REIT currently owns 74 percent of Wisma Atria and 27 percent of another mall, Ngee Ann City, with a total value of S$1.3 billion.
  
  According to the draft prospectus, Prime REIT expects to pay a distribution per unit of 2.51 Singapore cents for the six months to December 31 this year.
  
  The distribution will be 5.25 Singapore cents for 2006.
  
  And if the IPO is priced at the top end of 98 cents, the annualised distribution will be 5.12 percent for this year and 5.35 percent next year.
  
  The IPO will have shares set aside for both the public and institutions.
  
  The units that will be sold through the IPO represent about 57 percent of the trust.
  
  Ergo is controlled by the world's biggest reinsurer, Munich Re of Germany. -CNA
• k4korny

  28 Sep 05, 01:22

  upz!
  
  surprisingly, not much discussion on this one. yield is pretty low. think they published that is was about 4.8% ( I think?? ). expected to fly, but so far it doesn't seem to be doing too well.
• stellazio

  28 Sep 05, 02:32

  Should i buy..I want to earn money..
• shade343

  28 Sep 05, 08:40

  Not muh room to move also lah....Those who got it at IPO can keep and wait for dividends. But my Suntec Reit gives more yield than this piece of Shit.