Soilbuild Reit set to raise $360 million from IPO

The business space trust fixes the price at S$0.78 for a 7.7% yield after attracting good demand from long-only funds and real estate specialists.
Soilbuild trust focuses on industrial properties and business parks
Soilbuild trust focuses on industrial properties and business parks

Soilbuild Business Space Reit will raise S$457.5 million $360 million from its Singapore initial public offering after fixing the price at S$0.78 per share, a source said Wednesday.

The trust, which focuses on industrial properties and business parks, is due to start trading on August 16 and will be the third real estate investment trust Reit to list in Singapore in less than a month.

According to a source, there was very little price sensitivity in the order book and Soilbuild could quite comfortably have priced at the top, which is perhaps not too surprising as the indicated S$0.77-S$0.80 range was very tight to begin with. However,...

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