IReit cements S$372m IPO despite challenges

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By Rashmi Kumar
07 Aug 2014

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 ...

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