EC World set to price Singapore Reit IPO near top of range: IFR

[SINGAPORE] EC World Real Estate Investment Trust (Reit) is set to price its initial public offering in Singapore near the top end of its indicative range to raise about S$346 million, IFR reported, citing a person close to the transaction.

The Reit, backed by a portfolio of properties in Hangzhou, China, will be selling 427.6 million units in the IPO, Thomson Reuters publication IFR reported on Wednesday.

The units are to be priced at S$0.81 apiece, compared with their indicative range of S$0.76-S$0.82, IFR said.

Units of the Reit, sponsored by Shanghai-based Forchn Holdings Group, will be listed on July 28, IFR added.

An external spokesman for EC World declined to comment.

REUTERS