Not all Reits are created equal: OUE prices $475m IPO at the bottom
Overseas Union Enterprise Hospitality real estate investment trust closed its S$600m IPO on Thursday but unlike rival Singapore Press Holdings, which was massively oversubscribed, OUE attracted more muted demand, pricing the deal the bottom of the range.
OUE offered 681.8m units at a price of S$0.88, the bottom of a range which had a top price of S$0.90. That gives it a dividend yield of 7.46% for the year 2014, which is a premium to the 5.79% given out by SPH Reit.
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