Daiwa House Logistics Trust to raise S$575.5m in IPO, selling units at S$0.80 each

DAIWA House Logistics Trust (DHLT) is rolling into the Singapore market as the first real estate investment trust (Reit) with significant exposure to logistics and industrial properties in Japan.

But for sponsor Daiwa House Industry Co (DHI), a property developer and real estate fund manager listed on the Tokyo Stock Exchange (TSE), DHLT represents its move to capture growth opportunities in the wider Asian market.

The Reit manager intends to raise gross proceeds of approximately S$575.5 million from its initial public offering (IPO) on the Singapore Exchange (SGX), including the issuance of the sponsor's subscription units, the cornerstone units as well as perpetual securities.

It also intends to draw down 35.6 billion yen (S$421.1 million) of loan facilities on th…

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL