ARA IPO

SINGAPORE, Oct 24 (Reuters) - Real estate firm ARA Asset Management will price its $190 million Singapore initial public offering late on Wednesday and the order book is fully covered, sources close to the deal said.

"It is fully subscribed and there is no price sensitivity," a source told Reuters, adding that the deal would likely be priced at the top of an indicative range.

>> This seems to be a hot IPO. Should be going up strongly on first day.

23,300,000 Shares to the public in Singapore, including 8,300,000 Shares (the Reserved Shares) reserve for the directors, management, employees and business associates of our Company, our subsidiaries and associated companies who have contributed to our success

>> There are 23,300 lots up for grab and the underwriter would be able to do over allotment. Meaning that there should be a fair chance of getting it.

Our business comprises three primary segments:
- REIT management
- Private real estate fund management
- Specialist equity fund management and corporate finance advisory services

Investment highlight:

Proven expertise and track record in real estate fund management
- Pioneer in the establishment of REITs
- Growth in REIT real estate assets under management
- Strong performance of the REITs we manage
- Growth in funds under management
Attractive business model
- Diversified and complementary strategies
- Stable income
- Growth potential
- Strong financial performance
Strong team and relationships
- Experienced team
- Strong relationship with the Cheung Kong Group
- Established relationships with institutional investors

>> They have a unique strength, but competition is strong too. I think I read some weeks back, Calpers(California Public Employees' Retirement System) is also one of the investor. I think this say something about the management skill.