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Hot stock update: Frasers Logistics and Industrial Trust closes up on debut on Tuesday
FRASERS Logistics and Industrial Trust rose 1.7 per cent on Tuesday on its debut. The real estate investment trust (Reit) opened at S$0.905, higher than its initial public offering (IPO) price of S$0.89. During the day, the Reit hit a high of S$0.93 before closing at S$0.91.
The Australian industrial property play had raised S$903 million through its public offering, Singapore's largest IPO since 2013. The IPO was over six times subscribed, drawing keen demand from institutional investors.