Accordia Golf IPO roadshow tees off

Spin-off from Japan's Accordia Group targets S$758.5m-S$782m IPO in Singapore. Germany's I-REIT Global could yet follow.

Amid an improvement in market conditions in Singapore, roadshows begin on Tuesday for a S$758.5 million to S$782 million US$609 million to US$628 million initial public offering by Accordia Golf Trust, a golf course-backed spin-off from Japan’s Accordia Group.

The IPO, lead managed by Citigroup and Daiwa, is being brought to market just as interest in Singapore's real estate investment trust sector perks up, with Frasers Hospitality Trust on course for a successful listing and German property group I-REIT Global looking to follow suit.

The Accordia Golf deal has a very heavy slant towards Japanese retail investors, which are being offered 576.3 million...

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