IREIT Global IPO Balloting Result

Post author:Marubozu
Post published:August 13, 2014

Trading debut: IREIT Global joins Mainboard after $370m IPO

Its public offer was more than 7 times subscribed. The Singapore Exchange today welcomed IREIT Global, its first office REIT focusing only in properties in Europe.

This comes after an IPO that was 7.6 times subscribed and raised about $370 million. The Public Offer received 4,054 valid applications for 86,865,000 Unit. Its initial portfolio comprises four office properties in Germany in key cities of Bonn, Darmstadt, Münster and Munich, valued at approximately S$478 million.

According to Lawrence WOng, Head of Listings at SGX, “We welcome IREIT Global to Mainboard. Its focus in Europe adds geographical diversity to our REITs cluster and provides our global investors with access to the property sector in Germany and Europe. We look forward to welcoming more REITs and real estate companies from Europe to tap into Asia’s growing wealth base via a listing on SGX,

IREIT Global will trade under the stock code “UD1U”.

IREIT Global IPO Balloting Result from SGX website.

IREIT Global IPO Prospectus.

Global Stock Market Indices PE Ratio At a Glance (12 Aug 2014)

Post author:Marubozu
Post published:August 12, 2014

Market Indices PE Ratio for Major Stock Exchange globally.

US: Dow Jones Industrial, S&P500, NASDAQ, Russell 2000
Europe: FTSE100, CAC40, DAX
Asia: KLCI, STI, HangSeng, ASX200, CSI 300, JCI, SET, KOPSI, NIKKEI 225, SENSEX, TWSE, NZX50, PSEi

Average PE ratio decreases from 24.29 to 22.91. Current uptrend still intact although recent drop for Dow Jones Industrial, S&P500 and NASDAQ. P/B Ratio increase from 2.13 to 2.18. Watch the uptrend support very closely. There maybe a trend reversal if the uptrend support is broken for all these 3 indices.

The risk of Russell 2000 and NASDAQ are getting higher due to high PE and PB.

July 2014 Month Global PE Ratio.

See the compilation of Monthly Global Stock Market here.

PE = Price Per Earning
PB = Price To Book Value
Want to Learn More about how to value the stock market using PE Ratio or PB Ratio? Check out the Fundamental Analysis Class here.

IREIT GLOBAL IPO Prospectus

Post author:Marubozu
Post published:August 9, 2014

INTRODUCTION TO IREIT GLOBAL
IREIT is a Singapore real estate investment trust (“REIT”) established with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real estate in Europe which is used primarily for office purposes, as well as real estate-related assets. With an initial portfolio of four properties in Germany (the “IPO Portfolio”), IREIT is expected to have an initial primary focus on Germany and the United Kingdom.

IPO Price = S$0.88
NAV = S$0.78
Price / NAV = 1.128 –> IPO price is 12.8% Premium to the NAV. (Page 38 of IREIT Global IPO Prospectus)
Projected DPU Yield = 7.6% (2014), 8% (2015) (Page 14 of IREIT Global IPO Prospectus)
Total Number of Units Issued = 419,337,000 (Page 38 of IREIT Global IPO Prospectus)
Total Debt = Euro 95,019,000 (Page 38 of Balance Sheet of IREIT Global IPO Prospectus)
Total Asset = Euro 290,796,000 (Page 38 of Balance Sheet of IREIT Global IPO Prospectus)
Gearing Ratio = 32.67%
WALE = 7.6 Years
Occupancy Rate = 100%
Distribution Policy = At least 90% of Annual Distributable Income on Semi Annual Basis. (Page 33)

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IREIT Portfolio

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See other Singapore REIT Comparison Table here.