UI Boustead Reit launches S$1.2 billion IPO at S$0.88 per unit
Following the offering, the trust will have a total market capitalisation of S$1.95 billion
Add BT as a preferred source
[SINGAPORE] UI Boustead Real Estate Investment Trust (Reit) has launched its initial public offering (IPO) of about 677.2 million units at S$0.88 each, and is expected to start trading on the Singapore Exchange mainboard on Mar 12.
It expects to raise gross proceeds of around S$1.2 billion from the offer and issuance of cornerstone units. Including debt facilities and the sponsor and Boustead Projects contribution, the trust will have just over S$2 billion in proceeds.
The manager has earmarked around S$1.9 billion for the acquisition of properties, S$40.6 million for the payment of refundable consumption tax, S$36.9 million for issue expenses, S$43.4 million for transaction costs, and the remaining S$19.7 million for working capital and cash reserves.
TRENDING NOW
Yeoh Pei Xien: YTL’s third-gen scion with a pastor’s heart
UOB CEO’s youngest child Grant Wee turns burnout into a wellness business
Keppel H1 net profit drops 59% to S$155 million on impairments, M1 deal fallout; shares fall 4%
Singtel explores Nasdaq-SGX dual listing for data centre arm Nxera, local data centre Reit
