Australia’s Lendlease Global has lodged a prospectus with the Monetary Authority of Singapore (MAS) for a mixed-commercial REIT initial public offering (IPO).

It will be known as the Lendlease Global Commercial REIT, and will list on the mainboard of the Singapore Exchange (SGX).

The IPO, and a placement tranche, will offer about 387.5 million units at SGD0.88 each.

Lendlease Global Commercial REIT is expected to raise gross proceeds of about SGD1.03 billion from the IPO, and it will have an initial portfolio of two properties.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.