temasek-infrastructure-trust-to-price-at-the-top-of-the-range

Temasek infrastructure trust to price at the top of the range

Heavily oversubscribed CitySpring will pay a divided yield of 6.75% to IPO investors.
SingaporeÆs first business trust backed by infrastructure assets attracted strong demand for its initial public offering, according to sources who said the trust would fix the price at the top end of the S$0.77 to S$0.89 range.

Neither the trust nor its sponsor Temasek had confirmed the final price yesterday, but institutional investors who were informed of their allocations during the day said they had received units at the maximum price. They estimated that the order book would have been well over 15 times covered, as reported by the local Singapore press towards the end of last week.

This means CitySpring Infrastructure Trust will raise S$286 million $186 million from institutional and retail investors...
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