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(29-09-2012, 01:35 PM)Nick Wrote: This could be the first listed healthcare business trust in SGX. Fortis is seeking to raise around $0.5 billion in this IPO and forecast dividend yield of 8.5 - 9%.
http://masnet.mas.gov.sg/opera/sdrprosp....7003E1692/$File/Project%20Sapphire%20Preliminary%20Prospectus%20dated%2028%20September%202.pdf [Preliminary Prospectus]
From pg 99, the yield is based on DPU due to waiver by sponsor of their entitlement for FY13 (Mar) and FY14 (Mar) + 100% payout ie. inflated by ~2.5% due to this waiver. From FY15 onwards, no more sponsor waiver + 90% payout - that means earnings have to grow to give similar yields.
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