I-Reit allocates institutional portion of IPO

Concentrated order book for German property IPO.

I-Reit allocates institutional portion of IPO

Germany’s I-Reit completed the first leg of its reconfigured S$369 million $295.98 million Singapore initial public offering on Tuesday, allocating fewer shares to institutional investors than originally planned to accommodate an investment by local tycoon Lim Chap Huat.

The institutional tranche was cutback sharply after the strategic Singaporean investor was included during the book-building process, pushing the schedule back by five days as the real estate investment trust re-lodged the deal with the Monetary Authority...

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