Accordia Golf Trust aiming to raise up to $782m from IPO
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SINGAPORE'S first golf business trust to be listed, Accordia Golf Trust (AG Trust), is seeking to raise up to $782 million from its mainboard initial public offering on the Singapore Exchange.
According to its preliminary prospectus lodged yesterday, trustee-manager Accordia Golf Trust Management is offering 782 million units at a price range of 97 cents to $1 per unit. This translates into an illustrative annual distribution per unit yield of 8.8 to 9.1 per cent.
The offering consists of an international placement of 164.6 million units, a public offering in Singapore of 41.2 million units, and a public offering without listing in Japan of 576.3 million units.
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