OUE C-Reit launches IPO at 80 cents a unit
Forecast yield of 6.8% and 24% discount to NAV; institutional offer understood to be two times subscribed
Singapore
OUE Commercial Real Estate Investment Trust (OUE C-Reit) kicked off the first mainboard initial public offering (IPO) of the year yesterday evening, with a price of 80 cents per unit, a forecast distribution yield of 6.8 per cent for this year, and a 24 per cent discount to net asset value (NAV).
The retail offering of 56.25 million units is open for application until noon on Thursday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
J&J advances US$6.48 billion settlement of talc cancer lawsuits
US holds quarterly debt sale steady, starts buybacks this month
US dollar nears six-month high after pre-Fed data shock, yen steady
KFC parent Yum reports surprise drop in global same-store sales on weak demand
Pfizer lifts 2024 profit view on cost cuts, higher Covid vaccine demand
Shell exits China power market businesses