Daiwa House and Digital Core: A tale of 2 Reit IPOs

AFTER a relatively quiet period, Singapore's equity capital market saw a burst of fundraising activity in the last quarter of the year. Notably, 2 fairly large real estate investment trusts (Reits) came to market. They have seen different fortunes since their listings, but both have several factors in their favour.

Logistics and industrial Reit Daiwa House Logistics Trust (DHLT) and pure-play data centre trust Digital Core Reit (DC Reit) made their trading debuts on the mainboard of the Singapore Exchange (SGX) within weeks of each other: on Nov 26 and Dec 6, respectively.

This brought the number of Singapore-listed real estate investment trusts (S-Reits) and property trusts on SGX to 44, with a combined market capitalisation of over S$110 billion.