Japanese Reit promises high growth

Difficult secondary market conditions pose a challenge to APL Japan Trust in the final two days of its bookbuild. Separately, Altitude Trust extends its offer period by a week.

APL Japan Trust, which is set to become the second real estate investment trust backed by Japanese assets to list in Singapore, has entered the final few days of the institutional marketing period for its up to S$514.9 million $355 million initial public offering.

Unfortunately, this seems to coincide with a period in which investors prefer not to focus on primary issuance, keeping their eyes instead on the secondary market where stocks have been tumbling for the past couple of...

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