Sabana closes first shariah IPO in Singapore

21 Nov 2010

Sabana Real Estate Investment Trust (Reit) became the first ever shariah-compliant company to list on the Singapore stock exchange last week, pricing the deal in the middle of its range.

Bookrunners Daiwa Capital Markets, HSBC and United Overseas Bank helped the company raise S$636.1m ($491m) from the sale of 605.8m shares on Friday. The leads priced the deal at S$1.50, in the middle of the S$1-S$1.1 range that had been testing investors on. The range offered investors in ...

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