rickmers-price-range-implies-a-yield-of-up-to-92

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 SingaporeÆs 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 raise a maximum of $181 million.

Unusually, the yield range was set first as opposed to the common practice of setting the price range first to reflect the fact that dividends will be paid in...
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