Sasseur REIT property, Sasseur (Chongqing) Outlets, in Chongqing City. (Photo: Sasseur REIT)Sasseur REIT property, Sasseur (Chongqing) Outlets, in Chongqing City. (Photo: Sasseur REIT)

Sasseur REIT has registered its final prospectus for an initial public offering (IPO) on the Singapore Exchange.

The IPO seeks to raise gross proceeds of approximately SGD396.0 million (USD300 million) for the REIT.

266,562,500 units of Sasseur REIT, of which 13,750,000 are for the public tranche, are being offered to investors at SGD0.80 each.

A group of 12 cornerstone investors, including subsidiary Adroit Ideology Limited, DBS Bank, Bangkok Life Assurance, and Credit Suisse AG, has agreed to subscribe for an aggregate of 228,437,500 units of the REIT at this offering price.

Read: Sasseur REIT to tap demand for outlet malls in Asia with USD1 billion portfolio

These cornerstone units represent approximately 46.1% of the gross proceeds to be raised from the exercise.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.