Far East Hospitality Trust IPO

Far East Hospitality seeks $528 million from Singapore IPO

The roadshow kicks off today, with cornerstone investors having signed up for more than half of the deal, and the price range indicating a yield of up to 6.8% for 2013.
<div style="text-align: left;">
Most of Far East Hospitality's properties are in the upscale Orchard Road area
</div>
<div style="text-align: left;"> Most of Far East Hospitality's properties are in the upscale Orchard Road area </div>

Far East Hospitality Trust, a hotel-focused real estate investment trust, is set to start the roadshow today for an initial public offering that could raise up to S$718 million $578 million.

The trust is sponsored by Far East Organisation, which is owned by the Ng family and is the biggest private property developer in Singapore. The same family also owns the Hong Kong-based Sino Group.

Far East has strong brand name recognition in Singapore and the deal is likely to appeal to investors, thanks to its defensive characteristics, good yield and focus on the city-state’s growing tourism industry, a source said on Friday.

...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222