Asian equity markets are witnessing a mini renaissance in secondary offerings from Reits and trusts as market participates debate whether 10-year US Treasury yields have peaked temporarily at least.
As table 1 below shows, one of the most striking aspects of May’s secondary market activity across Asia ex-China was the dominance of yield plays from Singapore and Thailand, which accounted for six of the top 10 deals by size.
So far this year, Singaporean reits real estate investment trusts and trusts have raised S$2.052 billion $1.54 billion, close to 2016’s overall total and about 67% of 2017’s.
Even more impressively, all bar...
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