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.