SPH REIT - listing in July

SPH is one of my anchoring stocks in my stock portfolio.  The company just announced plan to list a real estate investment trust in July.  The REIT will buy Paragon and the Clementi Mall located in a western suburb for $3.07 billion.  Seletar Mall probably will get on the REIT in 2014 after completion.

SPH has been generous with dividend payouts over the years, and hopefully this will also be true for this SPH REIT.  I think I will need to build up my war chest for July action.

Although I am a bit disappointed that existing shareholders of SPH are not given any free shares of the new REIT, a one-time dividend payment of 18 cents a share eases some disappointment.

An article about the coming REIT:

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Singapore Press plans to raise $540m in retail REIT IPO
Monday, 27 May 2013

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