
OUE Commercial Trust fails to impress in debut trading
Units slid as much as 3.8%.
According to a report by Bloomberg, OUE Commercial Trust (OUECT), the second trust Singapore developer OUE Ltd. has listed in the past six months, fell on its first day of trading amid concerns that the yield and credit rating are lower than its peers.
The units slid as much as 3.8 percent to 77 Singapore cents before trading at 78 Singapore cents at 2:20 p.m. local time. The stock was sold at 80 Singapore cents each in its initial public offering. The REIT raised S$346.4 million ($271 million), offering 208 million units to the public and selling an additional 225 million units to cornerstone investors.
Read full report here.