indiabulls-trust-confirms-dividend-yield-of-up-to-98

Indiabulls trust confirms dividend yield of up to 9.8%

The India-focused property trust sets the IPO price range at S$1.00-S$1.10 for a total deal size of up to $213 million.

By Anette Jönsson

May 26, 2008

Indiabulls Properties Investment Trust IPIT has set the price range for its initial public offering at S$1.00 to S$1.10 for a total deal size of between S$262.5 million and S$288.8 million $193 million to $213 million.

The bottom end of the range is equal to the assumed IPO price in the preliminary prospectus lodged with the Singapore regulators in early May and confirms that the trust could offer an initial dividend yield of up to 9.8% for the fiscal year ending in March 2010 û or more than 200bp above the 7.6% yield offered by Ascendas India Trust a-iTrust, based on consensus forecasts compiled by Bloomberg. The Singapore real estate investment trusts trade...

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