demand-for-china-reit-pushes-price-to-the-top

Demand for China Reit pushes price to the top

The IPO of Singapore's first Reit backed by China-based assets is more than 100 times covered.
November 28, 2006
CapitaRetail China Trust will raise the maximum S$218.4 million $140.9 million it sought from the initial public offering of the first Singapore real estate investment trust Reit with China-based assets after the arrangers fixed the price at the top of the range.

The pricing came as no surprise after the IPO attracted massive demand from institutional investors who jumped at this first opportunity to buy Chinese retail assets through a Reit. The fact that the Reit is sponsored by well-respected Singapore developer CapitaLand was believed to have completely overshadowed any of the usual concerns about investing in China.

According to sources, the deal was more than 100 times covered when the institutional order...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222