Sabana Shariah Compliant REIT, which owns industrial properties in Singapore, has priced its initial public offering at $1.05 a share or at the midpoint of the indicative range. Sabana REIT, Singapore’s first Islamic REIT and the largest Shariah-compliant property trust anywhere, had originally set a price guidance of $1.00–$1.10. I never know REIT can be Shariah compliant too!
Low deposit rates drive investors to seek higher yielding instruments?
Distribution yield estimates: 8.45% for 2011; 8.48% for 2012.
Retail tranche of the IPO: Starts on Nov 19, close on Nov 24 and begin trading on Nov 26.
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