The manager of Elite Commercial REIT has priced its initial public offering (IPO) at GBP0.68 per unit.
The IPO consists of an international placement tranche of 108,951,900 units to investors outside the US, and an offering of 5,734,300 units to the public in Singapore.
Investors subscribing for units under the Singapore public offer will pay the SGD equivalent of about SGD1.21 per unit.
OCBC Limited and UBS AG, Singapore Branch are the joint issue managers for the IPO.
Elite Commercial REIT will have an initial portfolio of 97 properties across the UK, with an appraised value of GBP319 million.
99% of the properties are on freehold leases, and the portfolio is 100% occupied.
Full access to all editorial materials
Unlimited access to our seminars and classes
Site visit activities