OUE to raise S$346m in commercial trust IPO
It'll sell 433 million units at $0.80 each.
According to a report by Reuters, Singapore property firm Overseas Union Enterprise is looking to raise at least S$346 million ($272 million) through the listing of a commercial real estate investment trust in the city-state's first major IPO this year, two sources said.
OUE Commercial Reit is selling 433 million units at S$0.80 a unit offering a yield of 6.8 percent, the sources with direct knowledge of the deal told Reuters.
Read full report here.