Elite Commercial REIT IPO 8.3x Subscribed
February 6, 2020 — Elite Commercial REIT Management Pte. Ltd., the manager of Elite Commercial REIT announced its successful Initial Public Offering (“IPO”) of 114,686,200 units in Elite Commercial REIT at the Offering Price of £0.68 per Unit (S$1.21 per Unit).
The international placement of 108,951,900 Units to investors, outside the United States of America, received indications of interest from institutional investors and high net worth individuals amounting to over £234.3 million, representing a subscription rate of 3.2 times.
At the close of the Offering at 12.00 noon on 4 February 2020, 3,058 valid applications for 47,850,000 Units amounting to approximately £32.5 million were received for the 5,734,300 Units offered to the public in Singapore, representing a subscription rate of 8.3 times.
Elite Commercial REIT is the first UK-focused Singapore REIT, with over 99% of the IPO Portfolio leased to the UK Government
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