GC
IReit cements S$372m IPO despite challenges
IReit Global closed the institutional bookbuilding phase of its S$372m ($299m) Singapore IPO on last Friday, though the retail offer remains open until August 11. As all the Reit's assets are in Germany, this proved a challenge to bookbuilding, but the leads wooed investors with a juicy yield.
The Reit’s initial portfolio comprises four office properties in Germany — and once it has wrapped up its IPO, it will become the first Singapore-listed Reit that receives all of its revenues from Europe.
Some 423m units were offered and were pitched at a fixed price of S$0.88 ...Already a subscriber? Login
