another-industrial-reit-completes-singapore-ipo

Another industrial Reit completes Singapore IPO

The MacarthurCook-sponsored trust raises $195 million and sets price above the mid-point for a 6.2% yield.
MacarthurCook Industrial Reit MI-Reit has priced its initial public offering just above the mid-point of the range at S$1.20 per unit after attracting modest demand from institutional investors. The pricing gives a total deal size of S$296.8 million $195 million.

The Singapore-based real estate investment trust, which will invest in properties used for industrial purposes including manufacturing, warehousing and distribution, had been offering the units at a price ranging from S$1 to S$1.30.

The institutional tranche, which accounted for 97% of the offering was two to three times covered, according to a source. It attracted orders from close to 50 investors in Asia and Europe, including Singapore, Hong Kong, the United Kingdom,...
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