China's Dasin Retail Trust launches $121m Singapore IPO

It will offer 151.8m units at $0.80 per unit.

Dasin Retail Trust, a REIT with properties in China's Pearl River Delta region, will launch an $121 million initial public offering on the Singapore Exchange Mainboard this week.

The offering of 151,768,900 units, priced at $0.80 per unit, consists of an international placement of 149.8 million units and a public offering of 2 million shares.

Concurrently with, but separate from the Offering, Dasin Retail Trust has secured commitments of S$25 million from two cornerstone investors, China Orient Asset Management (International) Holding Limited and Haitong International Investment Fund SPC.

Dasin Retail Trust’s initial property portfolio comprises three retail malls – Xiaolan Metro Mall, Ocean Metro Mall and Dasin E-Colour –located in Zhongshan City, PRC.

The public offer closes at 12 noon on Wednesday, January 18.