Retail-focused REIT raises $169 million ahead of Singapore listing

Solid demand allows for mid-range pricing and shows investors haven't given up on Singapore REITs despite rising interest rates.

Frasers Centrepoint Trust, a Singapore-based real estate investment trust focusing on retail properties, has raised S$269.8 million $169 million from its initial public offering after fixing the price just below the mid-point of the range.

The IPO, which comes less than two weeks after Cambridge Industrial Trust had to pull its REIT offering due to a lack of demand among institutional investors, suggests there is still life in the Singapore REIT sector now that global equity markets seem to...

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