UI Boustead REIT Seeks $770 Million From Singapore IPO

UI Boustead REIT has started taking investor orders for an initial public offering that may raise as much as S$973.6 million ($770 million), kicking off what is slated to be one of the city-state’s largest offerings in recent years.

UI Boustead REIT’s deal is offering 1.1 billion units at S$0.88 apiece, according to terms of the deal seen by Bloomberg News. If arrangers of the deal exercise the overallotment option of as much as S$48.1 million, the IPO would be the biggest since fiber broadband network provider Netlink NBN Trust’s $1.7 billion listing in 2017.