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Elite Commercial REIT To Raise Up To $229.7 M (US$170.6 M) In Singapore’s First Pound-Denominated IPO (The Straits Times)

Elite Commercial REIT To Raise Up To $229.7 M (US$170.6 M) In Singapore’s First Pound-Denominated IPO (The Straits Times)

20 January 2020 — SINGAPORE (THE BUSINESS TIMES) – The offer price for the first Reit denominated in British pounds to list here has been set at £0.68 per unit.

With this offer price, Elite Commercial Reit’s proposed Singapore initial public offering (IPO) will raise around £119.5 million (S$209.3 million) to £131.2 million (S$229.7 million), based on a total offering size of 175.7 million to 192.9 million units, according to a term sheet on Monday (Jan 20) seen by The Business Times.

It will follow a slew of four foreign commercial Reits which listed in Singapore last year – ARA US Hospitality Trust, Eagle Hospitality Trust, Prime US Reit and Lendlease Global Commercial Reit.

Read more here..