Forchn tests demand for year's third S-Reit IPO

The Shanghai-based company wants to list some of its logistical assets, potentially becoming Singapore's third pure Chinese Reit and opening the door to other Chinese S-Reits.
Chongxian Port Investment in Hangzhou, China, one of EC World Reit's six logistics properties
Chongxian Port Investment in Hangzhou, China, one of EC World Reit's six logistics properties

Shanghai-headquartered Forchn Holdings Group started testing investor demand on Monday for a new real estate investment trust, potentially raising around $337 million and becoming Singapore's third initial public offering in less than two months.

After a dismal year for IPOs in 2015, Singapore witnessed the rumblings of a revival in the Reit sector with the $470 million listing in May of Manulife US Reit. Poised to follow is Frasers Logistics Industrial Trust, a vehicle that holds some of the Australian assets of local property developer Frasers Centrepoint, which is set to make its market debut on Tuesday.

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