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UI Boustead Real Estate Investment Trust has initiated premarketing for its initial public offering on the Singapore Exchange. The REIT, which primarily invests in logistics and industrial properties in Singapore, plans to use the funds for property acquisitions, covering transaction costs, partial repayment of loans, and supporting working capital. Investor education has commenced, while specifics like the offer size and lock-up period are still under finalisation. Citigroup C.N has been appointed as joint global coordinator and joint bookrunner for the offering, signaling a structured approach to the IPO launch.
UI Boustead Real Estate Investment Trust has started premarketing its initial public offering on the Singapore Exchange, according to a term sheet reviewed by Reuters. The REIT's portfolio mainly consists of logistics and industrial properties located in Singapore.
The term sheet indicates that investor education sessions have begun, though the final details of the offering, such as its size and lock-up period, are still being determined. The REIT intends to utilise the IPO proceeds for acquiring additional properties, covering transaction costs, partially repaying existing loans or facilities, and supporting general working capital requirements.
Citigroup C.N has been named as joint global coordinator and joint bookrunner for the offering, reflecting the structured planning behind the IPO. This move follows a growing trend of industrial and logistics-focused REITs seeking public funding amid strong demand in Singapore's property investment sector.
Source Reuters
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