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Hot stock update: Frasers Logistics and Industrial Trust closes up on debut on Tuesday

Tuesday, June 21, 2016 - 17:24

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.

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