Taiwan Broadband completes S$1.4bn IPO with 8.5% yield
Taiwan Broadband Communications priced a S$1.4bn ($1.1bn) business trust IPO offering a juicy yield of more than 8% on Thursday. Final pricing came in at S$0.97 after the leads had pitched indicative pricing of S$0.92-S$1. This gave the trust a yield of 8.5%.
"We could have pushed the pricing to 98, 99 but the sponsors recognised that the deal had to trade well," said a banker working on the deal.
Books for the institutional tranche came in between one and two times covered, according to dealers, with strong demand from long-only
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