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United Hampshire Reit plunges 20% on debut day

Counter ends at US$0.64, down from IPO's US$0.80 but unfazed sponsor says it is in it for the long term

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Sponsors of United Hampshire US Reit (from far left): David Goss, managing director of UOB Global Capital, and James Hanson, president and chief executive officer of The Hampshire Companies.

Singapore

UNITED Hampshire US Reit may boast about its recession-proof portfolio but its units were certainly not immune to market volatility when they plunged 20 per cent to US$0.64, from their initial public offering (IPO) price of US$0.80, on their first day of trading.

But...