Eagle Hospitality Trust has registered its final prospectus for a listing on the Singapore Exchange (SGX), with an initial public offering price of USD0.78 per stapled security.
This offer price is below the initial indicated range of USD0.80 to USD0.81.
580.6 million stapled securities in Eagle Hospitality Trust are being offered.
This comprises of an international placement of 535.7 million units to qualified investors, and an offering of 44.9 million units to retail investors in Singapore.
Subscribers to the IPO will pay the offering price in SGD, which translates to about SGD1.07 per unit.
Eagle Hospitality Trust has projected an annualised distribution yield of 8.2% for the period spanning 1 May and 31 December 2019, and 8.4% in 2020.
Its underlying portfolio consists of 18 hospitality assets across the US, with total number of keys at 5,420 and a portfolio valuation of USD1.27 billion.
Distributions will be made on a semi-annual basis, for each six-month period ending 30 June and 31 December.
Eagle Hospitality Trust is expected to be listed on 24 May 2019.
Related: ARA US Hospitality Trust, Eagle Hospitality Trust offer exposure to US hotel market