DBS succeeds with S-REIT

The CapitaMall S-REIT is five times subscribed.

DBS has won a capital market coup by successfully launching Singapore's first S-REIT for CapitaLand. The CapitaMall deal was four times oversubscribed and garnered 39% of its demand from retail investors. It launched at the tight end of the range at S$0.96, a level which equates to a dividend yield of 7.2%, and saw S$235 million $134 million raised subject to the exercise of the greenshoe.

It will be recalled that last November, DBS and UBS Warburg...

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