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anybody knows the allocation like?
Unico1, you are most welcome. Best of luck to you and all others who applied for it.
Hi chipchip, if you are using CPF, you just have to indicate that you are using CPF. Reits are also classified in the same category as "stocks" so I dont think you can use 100% of OA to invest. Just in case you are not aware, you are able to check with CPF Board or your Agent Bank on the amount. Its very convenient to check online on your own.
Does anyone know how to apply using our CPF? Can we use all our OA or capped at 35% of OA?
Signals are mixed... so be cautious on Capitaland
Tks. Rickytan.
it is very convenience to apply thru internet.
Hi Unico1, yes you are able to apply for the IPO ia internet. It is NOT on a first come first served basis. It is likely to be oversubscribe and in that case, it will be based on balloting.
CapitaLand said it has fixed the IPO price of CapitaRetail China Trust's 193.3 mln shares at $1.13, the top end of the guidance range.
The IPO consists of 164.3 mln placement shares and 29 mln retail shares. Trust manager CapitaRetail China Trust Management Ltd chief CEO Lim Beng Chee, said the placement tranche has been 196x subscribed and the company will exercise its over-allotment option of up to 28.8 mln shares.
"Based on the offer price of $1.13, unitholders can expect a forecast distribution yield of 5.4% for 2007 and a projected distribution yield of 5.8% for 2008," CapitaLand said in a statement. The forecast distribution per unit is $0.0613 in 2007, rising to $0.0653 in 2008, and further upside possible, Lim added.
"A point to note is growth elements such as turnover rents, asset enhancements and acquisitions are not included (in the calculations)," Lim said. CapitaRetail China Trust also has a well defined acquisition growth pipeline, he added.
It has the first right of refusal to CapitaLand Retail Ltd's malls in China, as well as the assets of two retail funds: CapitaRetail China Development Fund, investing in retail mall developments in China, and CapitaRetail China Incubator Fund, investing in warehouse retail properties.
Lim said there are more than 20 assets proposed which could see it expand into 24 cities, with a porfolio valued at about $3 bln by 2009.
"If you look at what we have in the pipeline it is (worth) about $1.4-1.6 bln, and we are going out in the market to buy about $700-800 mln (worth of assets). So altogether we will target about $3 bln by 2009," he said. "We are confident we can deliver stable, as well as growing distributions, to our unit holders," he added.
The public offer will be launched on Nov 30 and will close on Dec 6. Trading is expected to commence on Dec 8.
Can we apply REIT IPO thru internet banking?? If it is 1st come 1st get IPO like Capital Mall Trust and Capital Mall Com lately issue, can we apply thru internet banking as well???
Can we apply REIT IPO thru internet banking?? If it is 1st come 1st get IPO like Capital Mall Trust and Capital Mall Com lately issue, can we apply thru internet banking as well???
CapitaRetail China will have an initial portfolio of seven malls, together valued at $690 mln, in five Chinese cities. CapitaMall Trust recenty bought a 20% stake in CapitaRetail China for $93.3 mln. Other shareholders of CapitaRetail China include Great Eastern Assurance and a German pension fund.
CapitaLand
The Singapore-based developer, which earns up to 80% of its pretax profit abroad, is offering 193.3 million units in the real estate investment trust or REIT at between $0.95 and $1.13 each.
CapitaLand said the CapitaRetail China Trust would be based on an initial portfolio of seven retail malls located in various Chinese cities. The Singapore-listed REIT would eventually invest in retail properties in China, Hong Kong and Macau, it added.
CapitaLand said the 2007 distribution yield for CapitaRetail China Trust would range from 5.42-6.45%.
J.P. Morgan, which is sole financial adviser on the deal, is also underwriting the issue with UBS and China International Capital Corp.
CapitaLand already manages two of Singapore's largest REITs -- CapitaMall