Ship leasing trust seeks Singapore listing

A high yield of up to 9.25% is expected to be secondary to the capital growth potential in terms of attracting investors to Singapore's fourth business trust.

A maritime financing company is the latest business trust to seek a listing in Singapore, hoping to raise up to $340 million in the process. Just over one-third of the US-dollar denominated offering will be taken up by cornerstone investors.

The issuer, First Ship Lease Trust FSL, will be the fourth business trust to list in Singapore since regulations were put in place to allow their existence. A business trust is similar to a real estate investment trust...

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