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Daiwa House Logistics REIT Set To Be SGX’s Largest IPO In A Year (Bloomberg)

Daiwa House Logistics REIT Set To Be SGX’s Largest IPO In A Year (Bloomberg)

November 12, 2021 – Daiwa House Logistics Trust is seeking to raise about S$464 million ($343 million) in an initial public offering that’s set to become Singapore’s largest in a year. 

The Singapore real estate investment trust, sponsored by Japan’s Daiwa House Industry Co., is offering 580.5 million units at S$0.80 each, according to terms of the deal obtained by Bloomberg News. That would be the biggest listing on the Singapore exchange since Nanofilm Technologies International Ltd. raised $346 million in October 2020. 

“The sponsor is an established one and they are listing at the right time given that logistics and industrial assets are in demand,” said Joel Ng, an analyst at KGI Securities (Singapore) Pte. “This would be the only Japan pure-play REIT listed in Singapore, and that may generate some interest.”

The offering marks the return of larger listings to the Singapore exchange, which hasn’t hosted a first-time share sale bigger than $100 million since March.

While the financial hub has missed out on an IPO boom across other parts of Asia including India and South Korea, the SGX has been a regional leader in establishing a framework for blank-check companies.

Read more here..

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