Reit listing candidates rethink flotation amid recent weak debuts

Singapore

WEAKNESS among recent Reit debuts appears to have made potential issuers hold back plans, casting a pall over the Singapore initial public offering (IPO) market, which has been supported by Reit listings in the past one to two years.

Last week, KBS Prime US Reit again delayed plans to file its prospectus for a Singapore Exchange (SGX) IPO after witnessing the weak post-listing performance of Eagle Hospitality Trust and ARA US Hospitality Trust, people with knowledge of the matter said.

KBS Realty Advisors, the US-based real estate private equity firm which has been eyeing a second Reit listing in Singapore since last year, had plans to list KBS Prime US Reit in early June.

Other deals in the pipeline include Ascendas-Singbridge Group's US$500 million IPO, backed by a portfolio of 33 high-quality office properties in the US, reported Bloomberg …