Rickmers' price range implies a yield of up to 9.2%

The ship-leasing trust focuses its IPO marketing on the differences between it and First Ship Lease, which has traded largely sideways since listing two-and-a-half weeks ago.

Rickmers Maritime yesterday launched the official roadshow for the upcoming listing of SingaporeƆs third shipping-focused business trust after confirming that the yield will range from 8.0% to 9.2%.

The yield indication, which refers to the annualised return for 2007 as a whole, gives a price range of S$1.41 to S$1.62 and a total deal size of up to S$444.4 million $293 million, sources familiar with the offering say. Excluding the portion set aside for cornerstone investors, the offering will...

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