Indiabulls property trust prepares for Singapore listing
The trust could raise about $190 million based on an assumed offering price of S$1 per unit and become only the second Singapore property trust to offer exposure to India.
Singapore-listed property trusts have had a tough time over the past six months with significant falls in share prices so it is no surprise that new listing candidates have stayed well away from the market. But the IPO drought may soon be over as Indiabulls Properties Investment Trust IPIT looks set to launch an offering of about S$260 million $190 million within the next couple of weeks, following the start of pre-marketing at the end of last week.
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