Boustead files for listing of Reit holding its Singapore logistics and industrial assets
The move follows a strategic review of the sale of its stakes in the assets
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[SINGAPORE] Boustead Singapore has applied to list a real estate investment trust (Reit) on the Singapore Exchange – one with a portfolio that includes its Singapore logistics and industrial real estate assets and other properties not held by Boustead.
The engineering and technology group said in a bourse filing on Tuesday (Sep 2) that its application is on behalf of UIB Holdings, the proposed sponsor of the Reit. Boustead holds a 20 per cent interest in UIB through Boustead Projects.
The update comes nearly three months after the company in June said it was conducting “strategic reviews” for the sale of its stakes in some of its logistics and industrial real estate assets to a Reit.
Boustead reiterated that the IPO and listing are subject to market conditions and negotiations with various counterparties, the relevant regulatory body and its shareholders.
Boustead shares closed at S$1.49 on Tuesday, up S$0.02 or 1.4 per cent.
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