Soilbuild squeezes in S$457m IPO ahead of Singapore close

Soilbuild Business Space Reit managed to price its S$457 ($360) IPO on August 7, ahead of markets closing for Singapore national holidays on Thursday and Friday. At S$0.78, pricing was toward the bottom of the range despite a well covered book but this gave investors some compensation in light of the discount to the comparables narrowing following recent stock moves.

  • By Lorraine Cushnie
  • 07 Aug 2013
Soilbuild had launched the deal with an initial range of S$0.77-S$0.80, which gave a forecast dividend yield of 7.5% to 7.8%. The dividend is still a healthy 7.7% at the final price but with its comparables trading up since the deal was launched, the discount is no longer ...

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Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 3,599.18 10 11.11%
2 HSBC 1,925.24 7 5.94%
3 Bank of America Merrill Lynch 1,736.50 8 5.36%
4 Itau BBA 916.67 2 2.83%
5 Bradesco BBI 900.00 2 2.78%

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2 HSBC 937.89 2 12.90%
3 Itau BBA 916.67 2 12.60%
4 Bradesco BBI 900.00 2 12.37%
5 Morgan Stanley 800.00 1 11.00%

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1 HSBC 295.00 1 32.24%
1 Credit Agricole CIB 295.00 1 32.24%
4 Mitsubishi UFJ Financial Group 30.00 1 3.28%
Subtotal 915.00 2 100.00%

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2 ING 3,184.83 25 9.45%
3 SG Corporate & Investment Banking 2,911.64 17 8.64%
4 Citi 2,741.75 18 8.13%
5 HSBC 1,822.32 18 5.41%

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1 Citi 262.46 3 12.40%
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4 DBS 191.19 2 9.03%