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Update: Frasers Logistics and Industrial Trust to raise up to S$902m in Singapore IPO
[SINGAPORE] Frasers Logistics and Industrial Trust plans to raise up to S$902 million through an initial public offering in Singapore, according to its prospectus filed with the regulator.
The real estate investment trust (Reit), to be backed by industrial and logistics assets in Australia, plans to sell 521.7 million units to institutions and retail investors at S$0.85 to S$0.89 apiece.
Additionally, cornerstone investors will take up 492.8 million units, the prospectus said. The reit is sponsored by real estate developer Frasers Centrepoint.