OUE to raise S$346m in commercial trust IPO

It'll sell 433 million units at $0.80 each.

According to a report by Reuters, Singapore property firm Overseas Union Enterprise is looking to raise at least S$346 million ($272 million) through the listing of a commercial real estate investment trust in the city-state's first major IPO this year, two sources said.

OUE Commercial Reit is selling 433 million units at S$0.80 a unit offering a yield of 6.8 percent, the sources with direct knowledge of the deal told Reuters.

Read full report here.

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