SPH REIT officially lists on SGX

Estimated market capitalisation of S$2.2 billion.

In a release, the Singapore Exchange (SGX) confirmed the listing of SPH REIT (Real Estate Investment Trust) on Mainboard, under the stock code, “SK6U”.

SPH REIT invests in retail properties in Asia-Pacific. Managed by SPH REIT Management, its current portfolio comprises two properties in Singapore: Paragon, a premier upscale retail mall and medical suite/office property in the heart of Singapore’s famous shopping belt, Orchard Road, and The Clementi Mall, a mid-market suburban mall located in Singapore’s Clementi town.

Dr Lee Boon Yang, Chairman of SPH, said: “The listing of SPH REIT marks a significant milestone in SPH’s history. As the Sponsor, we are committed to growing and establishing SPH REIT as a major mall owner and manager in Singapore and Asia Pacific. SPH will continue to hold a majority interest in SPH REIT, aligning our interests with fellow unitholders, and will endeavour to provide the REIT with a choice of well-located and high quality retail malls. On behalf of SPH, I would like to thank all our shareholders, tenants, business associates, our loyal and dedicated staff, the project team and professional advisors for making today’s important milestone a reality and success."

Susan Leng, CEO of SPH REIT, said: “We are gratified by the overwhelming interest from both institutional and retail investors. Upon listing, SPH REIT will be one of the largest retail REITs in Singapore by asset value, offering investors immediate meaningful exposure to a high quality retail property portfolio, anchored by Paragon, one of Singapore’s most iconic retail malls."

Magnus Böcker, CEO of SGX, said: “We are delighted to welcome SPH REIT to SGX. It is a significant addition to our established REITs and property trusts cluster both in terms of size and the household name of its sponsor.”

With an estimated market capitalisation of S$2.2 billion (US$1.7 billion), SPH REIT brings the total number of SGX REITs and Property Trusts to 33 with a combined market capitalisation of S$60 billion (US$47 billion).