Asian Pay Television Trust (APTT) is set to raise around $1.39 billion through its initial public offering (IPO), making it Singapore's second- largest listing this year after Mapletree Greater China Commercial Trust's IPO raised more than $1.6 billion in March. Units will be priced at 97 cents each, APTT said in its prospectus which was registered yesterday. It had indicated a maximum price of $1 per unit earlier. Based on the offering price, forecast distribution per unit (DPU) for this year is 7.29 cents, for a yield of 7.51 per cent. For 2014, APTT projected a DPU of 8.25 cents, which translates into a yield of 8.51 per cent. The public offer of about 70 million units will open from 9am today and close at noon on May 27. The business trust is expected to start trading on the Singapore Exchange at 2pm on May 29.
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