Frasers Logistics and Industrial Trust's initial public offering in Singapore has priced at the top of the range to raise about $666 million, according to a filing. The REIT is backed by real estate in Australia. BlackRock Funds, DBS Bank, Morgan Stanley and Nikko Asset Management Asia are among the cornerstone investors.
Soilbuild Business Space REIT is planning an initial public offering in Singapore to raise as much as $370.27 million. The company owns seven properties in Singapore and plans to offer 586.5 million units.
Singapore Press Holdings' initial public offering priced at the top end of its indicative range, raising $400 million after selling 560 million units. Overseas Union Enterprise is next, with plans to price its offering Wednesday. More REIT IPOs are pending, industry watchers say. "We know of a number of deals which may potentially come out," says Lai Yeu Huan, head of equity research at Nikko Asset Management Asia.