Soilbuild REIT (IPO)

Developer Soilbuild Group is looking to raise as much as $643m in an IPO of its industrial and business properties. Soilbuild Business Space REIT (Soilbuild REIT) will be offering 586.5 m units at an indicative price range of 77 cts to 80 cts per unit. 499m units will go to investors and institutions in the placement tranche, while 87.5 m units will be offered to the public. Soilbuild's co-founder Lim Chap Huat has also offered to buy an additional 216.9 m units. The trust expects to offer dividend yields of between 7.5% and 7.8%, based on its 2014 projections. The REIT's initial portfolio will comprise 7 business space properties, including 2 business park developments and 5 industrial properties. Soilbuild Group's construction arm Soilbuild Construction Group is listed on the SGX Mainboard.