relaunched-cambridge-ipo-subscribed-15-times

Relaunched Cambridge IPO subscribed 1.5 times

The industrial REIT was offered at a fixed price for a dividend yield of 7.5% in 2006 and 2007.
Cambridge Industrial Trust has completed the initial public offering that it was forced to postpone in mid-June after the market turned sour and institutional investors snubbed the deal on the basis that the dividend yield wasnÆt attractive enough compared with its already listed Singapore peers.

This time around the real estate investment trust had been leveraged up to allow for a significantly higher return and according to sources the slightly downsized S$206.2 million $131 million offering was about 1.5 to 1.6 times covered with about 30 participating accounts.

The greater interest may have been partly due to a general turnaround in the market with the Singapore Straits Times Index having risen 4.1% between the time...
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