EC World Reit to raise up to S$638 million in initial public offering (Amended)

Singapore

EC World Real Estate Investment Trust (Reit) plans to raise up to S$637.6 million through an initial public offering (IPO) on the main board of the Singapore Exchange, according to a preliminary prospectus lodged by the China-focused logistics and port assets trust.

Each unit will be priced between 76 and 82 Singapore cents. That would give the Reit total capitalisation of between S$996.8 million and S$1.04 billion, including S$405.9 million of borrowings.