Published: Tue, June 21, 2016
Business | By Max Garcia

EC World REIT to market Singapore IPO worth up to $335 mn

The REIT is sponsored by real estate developer Frasers Centrepoint, which has three other REITS listed on the SGX, namely Frasers Centrepoint Trust, Frasers Hospitality Trust and Frasers Commercial Trust.

The listing would make EC World the third REIT to be floated in Singapore this year.

Perpetual general manager for managed fund services, Andrew Cannane, said the launch of the IPO will demonstrate that fund managers have a choice about where they list their REITs.

"Owing to volatility, the S-REIT sector hasn't seen any new IPO's for 18 months until recently".

SINGAPORE-DOMICILED companies tapping the equity capital markets have raised US$2.4 billion so far this year, a 79.3 per cent jump from the US$1.3 billion raised in the first half of 2015, data from Thomson Reuters showed on Tuesday.

FLT's portfolio at IPO now contains 51 logistic and industrial properties in Sydney, Melbourne, and Brisbane.

The debut follows an initial public offering (IPO) which raised about S$903 million, the largest listing in Singapore since 2013 when Asian Pay Television Trust raised about S$1.9 billion.

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