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...
Singapore REITS
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...
Parkway Life Real Estate Investment Trust (PLife REIT) posted a 28.3 per cent rise in its Q3 gross revenue on-year, to S$21.2 million. It said its higher revenue was mainly due to additional revenue contribution amounting to S$1.8 million from its Japanese properties. The properties were acquired in the fourth quarter of 2009. PLife REIT also reported its Q3 net property income rose 26.5 per cent...
At least five real estate investment trusts (Reits), each worth around $500 million or more, are expected to list over the next six months, according to DBS Group Holdings. More dual listings of Reits might also be on the cards, after China firms up guidelines for the sector. Eng Seat Moey, managing director and head of DBS Bank's asset-backed structured products, said 'You can expect a lot more initial...
DBS Bank said it continues to be the leading underwriter of Singapore-listed real-estate investment trusts (REITs). The bank said it is leading the pack with a 30.2 per cent market share so far this year. Citigroup is second with a 22.9 per cent market share, followed by Standard Chartered Bank, which has garnered an 18.1 per cent share in REIT underwriting this year. DBS has underwritten about S$2.2...