indiabulls-property-trust-prepares-for-singapore-listing

Indiabulls property trust prepares for Singapore listing

The trust could raise about $190 million based on an assumed offering price of S$1 per unit and become only the second Singapore property trust to offer exposure to India.
May 13, 2008
Singapore-listed property trusts have had a tough time over the past six months with significant falls in share prices so it is no surprise that new listing candidates have stayed well away from the market. But the IPO drought may soon be over as Indiabulls Properties Investment Trust IPIT looks set to launch an offering of about S$260 million $190 million within the next couple of weeks, following the start of pre-marketing at the end of last week.

The listing vehicle, which is sponsored by IndiaÆs third largest property developer in terms of market capitalisation û Indiabulls Real Estate û will be structured largely as a real estate investment trust Reit but will be listed...
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