REIT Financial News - 9 APR 2010: Cache Logistics Trust Balloting Announcement

Cache Logistics Trust - Balloting Announcement. See report.

Key Points

• The offering of 474,108,000 units in cache logistics trust consists of:
• An international placement of 433,108,000 units to investors, including institutional and other investors in singapore (the "placement")
• An offering of 41,000,000 units to the public in singapore (the "public offer") of which 14,000,000 units (the "reserved units") were reserved for subscription by the directors, management, employees and business associates of CWT Limited, ARA Asset Management limited and their subsidiaries.
• The Placement - Indications of interest were received for 3,134,107,736 Units under the Placement, resulting in the Placement being approximately 7.2 times subscribed based on the 433,108,000 Units available under the Placement.
• The Public Offer - As at the close of the Public Offer at 12.00 p.m. on 8 April 2010, there were 12,729 valid applications for 27,000,000 Units (excluding the 14,000,000 Reserved Units which have been applied for by the Eligible Applicants) available to the public for subscription. In total,
  these applicants applied for 539,189,000 Units. Based on the aforesaid, the Public Offer was approximately 20.0 times subscribed (based on 27,000,000 Units excluding the 14,000,000 Reserved Units).
• Reserved Units - As at the closing date for the Reserved Tranche on 6 April 2010, valid acceptances were received for a total of 14,000,000 Reserved Units.
• Overall the Offering is approximately 7.8 times subscribed.

Author's Note
This is not a bad start for the Reit, which is 7.8 times subscribed overall. The units offered to the Public itself is 20 times subscribed. We shall look at the price movement when the units start to trade coming monday on 12 Apr 2010. The counter code for Cache Logistics Trust is already available at the SGX website: K2LU.