Sabana Shariah Compliant REIT eyes $471.4 million IPO

11/9/2010 | Reuters

Sabana Shariah Compliant REIT is expecting to raise at least $471.4 million in its initial public offering, according to a prospectus it has filed. Shareholders should receive a distribution yield of 8.45% for 2011 and 8.48% for 2012 based on the minimum price offer. It will be the first Islamic real estate trust in Singapore. Sabana controls 15 industrial properties in Singapore.

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