Suntec Real Estate Investment Trust is launching a private placement of between 310.7 million and 320 million new units at an issue price of between $1.34 and $1.38 each. In a stock exchange filing yesterday, Suntec REIT said the net proceeds of the placement would amount to around $417.9 million, after deducting estimated fees and costs. This amount will be used to finance part of the REIT's $1.49...
REITS
Global Logistic Properties Ltd (GLP), reported on Monday its second quarter net profit rose 179 percent from a year ago, helped by higher rental income, a stronger yen and revaluation gains. GLP, a real estate unit of the Government of Singapore Corp, owns warehouses and other logistics assets in China and Japan Net profit for the quarter ended September 30 rose to US$74.2 million compared with US$37.4...
The world's largest Shari'ah-compliant REIT by total assets opened to a sluggish start on its first day of trade in Singapore because of weak market sentiment. Sabana Industrial Real Estate Investment Trust or Sabana REIT closed its first day of trade at S$1.02. That's 2.8% lower than the IPO price of S$1.05. While it may have been a tepid debut for Sabana REIT, some analysts said they expect strong...
Sabana REIT priced its initial public offering (IPO) on Monday at S$1.05 per unit. This will be the first Shariah-compliant real estate investment trust (REIT) listed on the Singapore exchange (SGX), as well as the world's largest listed Shariah-compliant REIT by total assets. The public offer will close on November 24, and trading of the units on the SGX is expected to commence at 2pm on November...
Sabana Shariah Compliant REIT, which owns industrial properties in Singapore, has priced its IPO at $1.05 a share, the midpoint of an indicative range, to raise $637 million, IFR reported on Friday, citing sources. Sabana REIT, Singapore’s first Islamic REIT and the largest Shariah-compliant property trust anywhere, is offering 605.8 million units in the initial public offering (IPO). It had originally...
Sabana Reit, poised to become Singapore's first listed Syariah-compliant real estate investment trust (Reit), is likely to be well-received as low deposit rates drive investors to seek higher yielding instruments, analysts say. Sabana Reit is seeking to raise as much as $696.1 million, according to its prospectus filed with the Monetary Authority of Singapore. It is set to become the world's largest...
Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) said it planned to raise up to S$696.1 million through an initial public offering (IPO), according to a prospectus it has filed with the Monetary Authority of Singapore (MAS) . It said it planned to sell 632.8 million units, with each unit priced between S$1 and S$1.10. If successful, this would make it the first...
Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) plans to raise up to S$696.1 million through an initial public offering (IPO), according to a prospectus it has filed with the Monetary Authority of Singapore (MAS). Sabana said it plans to sell 632.8 million units, with each unit priced at between S$1 and S$1.10. If successful, this would make it the first Shariah-compliant...
Healthcare real-estate investment trust First Reit is launching a rights issue to partly finance its acquisition of two Indonesian hospitals. The trust said on Tuesday it would raise some S$172.8 million in gross proceeds through the issuance of about 345.6 million new units. The rights issue is offered to unitholders on a pro-rata basis of five rights units for every four existing units at a price of 50...
CapitaMalls Asia (CMA) said it has entered into an agreement to obtain a two-third stake in a S$747.2 million property project in Shanghai. It said the shopping mall and office project in the Luwan district is expected to be completed by 2015. CMA said the shopping mall would be well-positioned to serve affluent residents as well as working professionals in the area. It added the proposed investment was...