Far East Hospitality Trust, a hotel-focused real estate investment trust, is set to start the roadshow today for an initial public offering that could raise up to S$718 million $578 million.
The trust is sponsored by Far East Organisation, which is owned by the Ng family and is the biggest private property developer in Singapore. The same family also owns the Hong Kong-based Sino Group.
Far East has strong brand name recognition in Singapore and the deal is likely to appeal to investors, thanks to its defensive characteristics, good yield and focus on the city-state’s growing tourism industry, a source said on Friday.
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