UI Boustead REIT sinks 3.4% on trading debut with high volume of married deals
UI Boustead REIT began trading on the SGX on 12 March, and it was greeted with an immediate and sustained selloff.
Units fell to a low of more than 9% below the SGD0.88 offer price before paring some losses, ultimately closing with a more than 8.5% decline at SGD0.805.
That compares painfully with a weighted average first-day gain of 4.5% for Singapore IPOs over the past year.
Trade data from SGX indicate that in total, 16,430 trades were executed across 102.5 million units of UI Boustead REIT.
One of the most striking features of the trading data is the enormous volume of married trades at the SGD0.805 price level.
Related: UI Boustead REIT to list amid occupancy concerns, geopolitical headwinds
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