OUE C-Reit units said to be priced at 80 cents each

UNITS of OUE Commercial Real Estate Investment Trust (OUE C-Reit) are said to have been priced at 80 cents each, representing a dividend yield of 6.8 per cent for its $400 million initial public offering.

Bloomberg reported yesterday, citing two source with knowledge of the matter, that the yield will go up to 6.9 per cent in fiscal 2015. Marketing for the Reit will start next week.

To comprise an initial portfolio of OUE Bayfront in Singapore and the Lippo Plaza in Shanghai, OUE C-Reit is the second Reit in six months to be spun off from OUE Ltd, which listed OUE Hospitality Trust (OUE H-Trust) last July.