Singapore's first Reit IPO in two years raises $299 million

Cache Logistics Trust attracts good demand after offering a higher dividend yield than its closest peers.

Cache Logistics Trust has raised S$417.3 million $299 million from the largest Singapore initial public offering since CapitaLand spun off its Asian shopping mall business in November last year. It is also the first real estate investment trust of size to go public in Singapore since November 2007, although Indiabulls Property Investment Trust, which listed in June 2008, had Reit-like qualities, including a commitment to pay out at least 90% of its distributable profit and a cap on its...

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