Singapore’s Elite Commercial launches sterling Reit IPO

By Jonathan Breen
20 Jan 2020

Elite Commercial Real Estate Investment Trust has opened books for an IPO that could raise up to £130.7m ($169.7m), according to a source familiar with the matter.

Elite Commercial hit the road on Monday, Singapore time, with joint issue managers OCBC and UBS, which are also the bookrunners and underwriters alongside CGS-CIMB Securities and CICC.

The trust is offering between 175.7m and 192.9m units at a fixed price of £0.68 each, putting proceeds of £119.5m ...

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