business trust

Power Assets says the listing of its Hong Kong electricity business in the form of a trust is scheduled for January 29. The aim is to sell up to 70% to public investors, which implies a potential deal size of up to $5.7 billion.

The Thai telecom infrastructure fund will have a total value of $1.8 billion and comes with a fixed forward yield of 8.8%.

The fund will have a minimum value of $2.26 billion and at least two-thirds will be offered to public investors in an IPO.

The hotel-focused trust, which is being spun off from property developer Great Eagle, raises $549 million amid strong demand from yield-hungry institutions.

The Macquarie-sponsored business trust prices at a 2014 yield of 8.5% and allocates the great majority of the deal to cornerstones, anchors and long-only accounts in anticipation of a scale-back in favour of MIIF shareholders.

The Great Eagle spin-off is the first business trust-like vehicle to attempt a Hong Kong IPO in 18 months, offering yield-focused investors an alternative outside Singapore.

The business trust with a focus on media assets seeks to raise up to $1.1 billion, with a price range indicating a 2014 yield of more than 8%.

A Singapore business trust with a portfolio of Japanese shopping malls, Croesus will raise $297 million from the fixed-price offering as investors load up on high-yielding equities.

Langham Hospitality trust is seeking to raise up to $700 million by selling as much as 49% of the trust to yield-focused investors, sources say.