Prime response to Reit IPO

Another strong order book for a Singapore Reit.

Prime Reit is set to become the seventh Reit to list in Singapore following the pricing of a 943.1 million unit deal yesterday September 13 at S$0.98 per unit. The group is scheduled to raise S$924.24 million $550.89 million from the IPO, which was led by Macquarie Securities global co-ordinator, plus DBS, JPMorgan and Deutsche Bank as joint bookrunners.

Pricing came at the very top of an S$0.93 to S$0.98 indicative range and reflects the strength of an institutional order book, which fund managers say closed about 25 times oversubscribed. Geographically, demand was said to have split 50% Asia, with an equal divide between Hong Kong and...

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