Viva Industrial Trust (IPO)

Viva Industrial Trust (VIVA SP): A Spore business and real estate trust, is planning to sell 468m shares at $0.78 each to raise $365m via a share sale to Chinese property tycoon Tong Jinquan and the public. Tong, the chairman of Shanghai Summit Property Development, will purchase $200m of shares in Viva Industrial as a cornerstone investor. Viva Industrial forecast a dividend yield of 8.8% for 2014 and 9% for 2015, backed by 3 industrial properties in Singapore. Standard Chartered Plc, Bank of America Corp. and HSBC Holdings Plc are arranging the share sale.