Over Net asset value for prime rib. Will wait for a while after launch to see how it goes.
Reply to @joerha : Prefer discounted prime rib with much juicer yield.
Great analysis as always! High likelihood this IPO will be stagnant due to a few reasons:
1) Recent US Reit IPOs have not done well with ARAHT barely above water and Eagle below
2) KBS - Unfortunately, the name will remind some of the “pain” that shareholders of Kep-Kbs Reit had to go through with that dilutive rights issues
3) IPO fatigue more so another Reit with US assets
I suspect many are going to adopt the wait by the sidelines and watch first mentality and hope to get it below IPO. Let’s see :)
Reply to @SGPunter : I think offices should be more popular than hotels
If Market offered a deep discounted price by market then I will consider. possibly a rights issue after the IPO will do the trick.