Shanghai-headquartered Forchn Holdings Group started testing investor demand on Monday for a new real estate investment trust, potentially raising around $337 million and becoming Singapore's third initial public offering in less than two months.
After a dismal year for IPOs in 2015, Singapore witnessed the rumblings of a revival in the Reit sector with the $470 million listing in May of Manulife US Reit. Poised to follow is Frasers Logistics & Industrial Trust, a vehicle that holds some of the Australian assets of local property developer Frasers Centrepoint, which is set to make its market debut on Tuesday.
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