We recently heard about the IPO of Manulife Reit. Soon, another Reit, a bigger one, is about to list itself on our Singapore market. The Reit is none other than Frasers Logistics & Industrial Trust, which is managed and sponsored by Frasers Centrepoint Ltd. If you are one who likes strolling in shopping malls, then I'm sure you would likely be familiar with the name Frasers. It is a prominent Singaporean company and they manage many shopping malls, hospitality and even commercial properties in Singapore.
About Frasers Logistics & Industrial Trust
Frasers Logistics & Industrial Trust is a Singapore REIT consisting of a diversified portfolio of 51 properties located in Australia. As the name spells it, the assets are predominantly used for logistics or industrial purposes. In a matter of time, the portfolio is expected to be enlarged to 54 Properties, through the completion of Call Option Acquisition.
In the latest news release, the interest for the IPO sounds very rosy: 15 cornerstone investors have committed to take up approximately 48.6% of the total number of Units in issue immediately after completion of the Offering. The Offering has also attracted institutional interest amounting to over 6 times of the size of the Placement Tranche. Frasers Centrepoint is expected to hold a 22.5% stake in
the REIT after the IPO. The REIT hopes to raise around
S$900 million.
Portfolio of Frasers Logistics & Industrial Trust Properties
A portfolio of 51 industrial properties, all located within Australia including Sydney, Melbourne and Brisbane. The properties are predominantly freehold, have a long leasehold land tenure, and have a long weighted-average lease expiry of 6.9 years. It is a modern portfolio with average age of 6.1 years. The tenant base is well-diversified across sections such as consumer and logistics. The properties also have a high occupancy rate of 98.3%.
IPO Price
S$0.89 per unit
Expected Dividend Yield
6.83% pa for Yr 2016
7.30% pa for Yr 2017
Distributions are expected to be on a semi-annual basis
Timetable
Public offer: 9pm Friday 10 June 2016 to 12noon Thursday 16 June 2016
Trading of units on SGX: 9am Tuesday 21 June 2016
How To Subscribe
- WHITE Offer Public Units Application Forms
- ATM of DBS/UOB/OCBC
- Internet Banking Websites of DBS/UOB/OCBC
- Mobile Banking Interface of DBS
Points To Note
- When applying through ATM, you will need to bring along your CDP Account Number (12 digits starting with 1681), as you will be asked to key in the number.
- IPO is applicable to both cash and/or CPF, which can be applied via the methods above.
- The minimum initial subscription is for 1,000 Units. You may subscribe for a larger number of Units in integral multiples of 100.
- Upon application, the full amount is first deducted from your bank account. Thereafter, once the IPO results are out, any unsubscribed amounts will be refunded to your bank account.
- For illustration purposes, an investor who applies for 1,000 Units by way of an Application Form or an Electronic Application under the Public Offer will have to pay S$890.00 which is subject to a refund of the full amount or the balance thereof (without interest or any share of revenue or other benefit arising therefrom), as the case may be, upon the occurrence of any of the foregoing events.
Detailed Information
To find out more, you may read in detail about the Trust via its Product Highlight Sheet and Prospectus here.
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