EC World Reit prices IPO at 81 cents apiece
Annualised yield projected at 7.1% for the six months to Dec 31 this year
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EC World Reit has priced its initial public offering (IPO) at 81 Singapore cents per unit - the higher end of its indicative range. This translates to an annualised yield of 7.1 per cent for the forecast period of six months to Dec 31 this year and 7.3 per cent for the projection year 2017.
Speaking to BT on Wednesday, EC World Reit chairman Zhang Guobiao said that the Reit listing marks the start of asset securitisation for the Shanghai-based sponsor Forchn Group, which has plans to list other Reits here in the future to hold cultural and commercial real estate assets when their yields are raised to desired levels.
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