Nine cornerstones connect for Taiwan Broadband IPO
Nine cornerstone investors have signed up to take almost half of a S$1bn ($812m) IPO for Taiwan Broadband Communications, which is offering one the biggest yields for a trust this year, at nearly 9%.
Books opened on Thursday for the business trust offering, with bookrunners CIMB, DBS, JP Morgan and Macquarie setting a price range for the units of S$0.92-S$1.00.
Based on estimated 2014 earnings, this would give the trust a yield of 8.25%-8.97%. There is an overallotment option of S$465m.
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