Monday , May 25 2020

S’pore property trust IPOs surge to 6-year high

Bloomberg

Singapore real estate investment trusts are on a money-raising spree.
Lendlease Global Commercial REIT began taking investor orders on Tuesday for an initial public offering that could raise as much as S$740.3 million ($538 million) in what would be Singapore’s third-largest IPO this year.
REITs have raised $1.63 billion in Singapore IPOs so far this year, the highest since 2013 when first-time share sales by the sector fetched $2.18 billion, according to data compiled by Bloomberg. REITs also account for the bulk of all IPOs that have taken place in Singapore in 2019, representing 97 percent of all fundraising, the data show.

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