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OUE Commercial REIT prices units at S$0.80 with yield of 6.8%

OUE Commercial Real Estate Investment Trust (REIT) has priced its units at S$0.80 each for its initial public offering.

OUE Commercial Real Estate Investment Trust (REIT) has priced its units at S$0.80 each for its initial public offering.

At that price, the REIT’s distribution yield would be 6.8 per cent for this year, OUE said in a statement yesterday.

The IPO comprises 208 million units, of which 56.25 million units will be made available to the public with a further 151.75 million units in the placement tranche.

The REIT’s initial portfolio comprises two commercial properties: The OUE Bayfront located at Collyer Quay in Singapore’s central business district and Lippo Plaza in central Shanghai.

Ms Tan Shu Lin, Chief Executive Officer and Executive Director of OUE C-REIT, said the IPO gives investors an opportunity to invest in a premier portfolio of landmark commercial properties in prime business districts in Singapore and Shanghai with an attractive and stable distribution yield and potential upside for capital appreciation.

The public offer opened yesterday and will close at noon on Thursday. The REIT is due to make its trading debut on the Singapore Exchange on Jan 27.

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