Rickmers prices business trust IPO off the top
The final price for Rickmers Maritime results in a deal size of $284 million and puts the yield below the Singapore comps at 8.2%.
Rickmers Maritime has fixed the price of its Singapore initial public offering close to the top of the range at S$1.57 per unit for a total deal size of S$430.7 million $284 million.
Excluding the portion set aside for five cornerstone investors, the offering totaled $176 million. At the final price, the trust offers an annualised 2007 yield of 8.23%, which is a significant step up from the Singapore 10-year risk free rate that currently stands at 2.9% but...
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