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
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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.
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