Far East Hospitality Trust, a hotel-focused real estate investment trust, is set to raise S$656 million $527 million from its initial public offering in Singapore after pricing at the top of the indicative range.
It is now on course to become the biggest IPO in Singapore this year, surpassing Ascendas Hospitality’s $364 million offering last month, according to Bloomberg data. Similarly, amid a general appetite for yield on the back of uncertain market conditions, bankers started the pre-marketing last week of IGB Reit, a retail real estate investment trust that is aiming to raise M$837.5 million $270 million from its Malaysian IPO.
Far East is...
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