OUE Hospitality Trust outperforms market on trading debut

Total trading volume reached 80.5 million.

OUE Hospitality Trust (OUE H-Trust) made its trading debut on the Main Board of the SGX-ST yesterday.

The company reports that the Stapled Securities began trading at the opening price of S$0.885 per Stapled Security, a 0.6% increase over its IPO Offering Price of S$0.88. The Stapled Securities reached an intra-day high of S$0.89 before closing at S$0.88, outperforming the Straits Times Index which closed 1.2% lower at 3235.68 points.

The market capitalization was S$1.15billion, while total trading volume was at 80.5 million.

Mr Chong Kee Hiong, Chief Executive Officer of the REIT Manager, said: “We are delighted to have received a warm welcome on the trading debut of OUE Hospitality Trust on the SGX-ST. We will build on the success of the listing and strive towards achieving long term growth in distributions and net asset value while maintaining an appropriate capital structure.”

Credit Suisse (Singapore) Limited, Goldman Sachs (Singapore) Pte. and Standard Chartered Securities (Singapore) Pte. Limited are the Joint Global Coordinators and Issue Managers to the Offering.

Together with Merrill Lynch (Singapore) Pte. Ltd. (“Merrill Lynch”), Deutsche Bank AG, Singapore Branch (“Deutsche Bank”) and Oversea-Chinese Banking Corporation Limited (“OCBC Bank”), they are also the Joint Bookrunners and Underwriters to the Offering.