DBS succeeds with S-REIT

DBS has won a capital market coup by successfully launching Singapore's first S-REIT for CapitaLand. The CapitaMall deal was four times oversubscribed and garnered 39% of its demand from retail investors. It launched at the tight end of the range at S$0.96, a level which equates to a dividend yield of 7.2%, and saw S$235 million ($134 million) raised subject to the exercise of the greenshoe.