SINGAPORE: Singapore's third shipping trust, Rickmers Maritime, has priced its units at S$1.57 each.
This is near the top end of its indicative range of S$1.40 to S$1.62.
The price works out to a possible yield of some 8.2 per cent.
Rickmers is offering about 170 million units for the IPO - or about 45 per cent of its total outstanding units.
The IPO could raise some $267 million.
Rickmers' units are expected to start trading Friday, 4 May.
Its listing on the Singapore Exchange comes after Pacific Shipping Trust and First Ship Lease Trust.
Rickmers Group, based in Hamburg, will hold a 28 per cent stake in the trust when it is listed.
This is near the top end of its indicative range of S$1.40 to S$1.62.
The price works out to a possible yield of some 8.2 per cent.
Rickmers is offering about 170 million units for the IPO - or about 45 per cent of its total outstanding units.
The IPO could raise some $267 million.
Rickmers' units are expected to start trading Friday, 4 May.
Its listing on the Singapore Exchange comes after Pacific Shipping Trust and First Ship Lease Trust.
Rickmers Group, based in Hamburg, will hold a 28 per cent stake in the trust when it is listed.
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