Demand for China Reit pushes price to the top

The IPO of Singapore's first Reit backed by China-based assets is more than 100 times covered.

CapitaRetail China Trust will raise the maximum S$218.4 million $140.9 million it sought from the initial public offering of the first Singapore real estate investment trust Reit with China-based assets after the arrangers fixed the price at the top of the range.

The pricing came as no surprise after the IPO attracted massive demand from institutional investors who jumped at this first opportunity to buy Chinese retail assets through a Reit. The fact that the Reit is sponsored by...

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