I-Reit launches Singapore IPO

Property group hopes to entice investors with a big yield kicker for Singapore's first European pure play Reit offering.

I-Reit Global Management, which owns a portfolio of German office buildings, has fixed the offer price for its initial public offering at the bottom end of the pre-marketed range.

The group, which hopes to become the first European real estate investment trust to list in Singapore, has launched a S$372.4 million $298 million deal at S$0.88 a share, according to a term sheet seen by FinanceAsia.

The Barclays and DBS-led deal has a sequential offering structure, with the institutional order book now open until July 30. This will be followed by a retail offering from July 30 to August 6, with listing scheduled for...

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