Ascendas rolls out India property trust
Wednesday, 25 July 2007, 07:00 Hrs
Singapore: Ascendas India Trust (A-iTrust) is launching an initial public offering (IPO) Wednesday in hopes of raising 500 million Singapore dollars ($330 million). The Singapore-based trust has a tax-exempt dividend of about 4.75 percent in its forecast year from April 1 to March 31, 2008. It is the first Singapore-listed Indian property trust and has a portfolio comprising information technology parks in Bangalore, Chennai and Hyderabad. A-iTrust is offering 423 million shares at 1.18 Singapore dollars (78 US cents) each with 31 million shares for the public.