Daily BriefsIPOs and Placements

Equity Capital Markets: Vista REIT, Thai Beverage and more

In today’s briefing:

  • VistaREIT IPO – Bulk Expiries in the near Term and Larger Assets Saw Dwindling Performance
  • ThaiBev BeerCo Pre-IPO – Back for Another Round

VistaREIT IPO – Bulk Expiries in the near Term and Larger Assets Saw Dwindling Performance

By Clarence Chu

  • Vista REIT (VR PM) is looking to raise about US$158m in its Philippines IPO. This would be a 100% secondary selldown by the Sponsors.
  • VREIT is a Philippine REIT which owns commercial properties, comprising both retail and office properties. The initial portfolio consists of 12 Properties with an aggregate GLA of 256,403.95 sqm.
  • VREIT had weathered the effects of COVID relatively well, given its exposure towards essential providers and BPO tenants. However, its larger assets have seen their occupancies dwindle since FY19.

ThaiBev BeerCo Pre-IPO – Back for Another Round

By Sumeet Singh

  • On 5th May 2022, Thai Beverage announced that BeerCo will resume its Proposed Spin-off Listing. This time the company is aiming to raise less than US$1bn, as per media reports.
  • We have looked at various aspects of the deal earlier, as the company had tried to spin-off BeerCo in 2021 as well before finally calling it off in April 2021.
  • In this note, we talk about the recent updates for BeerCo.

Before it’s here, it’s on Smartkarma