IPO   

Rickmers Maritime Trust

paying a quaterly dividnd of usd21.40. about 106m is allocated to fund houses. should hold for medium to long term.

 

Result announcement:

Total numbers successful Applied - 5,636 ppl's (wish all happy Mayday n good luck).

1                  11:20         1           14.08%        1,194

2-9               12:20        1            26.78%        2,272

10-19           13:30        2            30.41%        1,290

20-49           14:20        2            10.33%           438

50-99           16:20        3              8.56%           242

100-499       19:20        4              9.10%           193

500 n above 20:20        9              0.74%               7

 

None BBs nor any institutional funded is mention.....Stag while still can. Just my personnal opinion.  

 

Personnelly does not interest me, another un-exciting IPO run......

 

It has priced its IPO at $1.57 a unit and is set to raise $266 million from the deal, a source familiar with the offer said on Friday.

 

shipping trust sianz ... wont cheong up one .. only wait for yield !!

dont like ..

 

hmm another shipping trust. looks like pple dont really like shipping trust & prefer property trust. anyone subscribing? price abit on the high side for me.

 

it is priced at 1.62 as i see from dbs internet banking, so anyone taking it up for its 8% dividend?

 

Hi cck53sg. Info on YangZhiJiang is in its thread, pls read it.

Rickmers Maritime said on Tuesday that it has set an indicative price range of $1.40 to $1.62 a unit for its $275 million ($182 million) IPO.

The IPO is expected to be priced later this week and shares in the trust are likely to start trading on May 4.

 

Hi Zhuge Liang,

any info on IPO YangZhiJiang ? I intend to buy when open trading on 18 Apr..

pls advise

thks

 

Shipping trust Rickmers Maritime is set to raise as much as $275 million in its IPO based on its indicative price range of $1.41 to $1.62 a unit, a source told Reuters.

Citigroup, Deutsche Bank and DBS Bank are lead managers for the new trust.

Based on the indicative price range, the yield of the trust would be between 8% and 9.2%, the source said. The IPO is expected to be priced in late April.

 

Germany's Rickmers Group, which charters container ships, will raise about US$160 million in the IPO of a business trust, according to the trust prospectus published on Friday.



Citigroup , Deutsche Bank and DBS Bank are lead managers for the new trust, Rickmers Maritime. This would be Singapore's third shipping trust.



Rickmers Maritime will issue 169.68 million units in its IPO or 44.5% of the total units, and would have a market capitalisation of US$365 million once it is listed, according to the prospectus. Some 104.67 million units, or 27.5% of the total units, will be sold to cornerstone investors -- Fidelity Investments Management, Bennelong Asset Management LLP, Citigroup Global Markets Ltd., Templeton Asset Management Ltd. and UOB Asset Management Ltd.



Hamburg-based Rickmers group and its partially owned subsidiary will inject 5 container ships into the trust. The group, which will hold a 28% stake in the trust after it is listed, is controlled by its chairman Bertram Rickmers, whose family has been involved in the shipping industry for 170 years.



Singapore has been aggressively courting the listing of property and other business trusts, waiving taxes on income from such securities and offering other financial incentives. Since the first REIT, was listed in 2002, Singapore has become the region's 3rd-largest market for property trusts after Australia and Japan.