BHG Retail Reit IPO to go ahead despite bland demand
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Singapore
THE Singapore Exchange's first mainboard listing this year might be off to a seemingly shaky start, given allocation figures released late on Wednesday night that signalled relatively soft demand for the float.
But the initial public offering (IPO) of Chinese mall owner BHG Retail Reit will still go ahead at S$0.80 per unit, the trust manager said in a Singapore Exchange filing. It has raised S$120.94 million from the IPO, plus another S$273.24 million from extra units subscribed to by the Reit sponsor Beijing Hualian Department Store Co, some cornerstone investors and a unit of Beijing Hualian Group.
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