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OUE Commercial Reit offers IPO at 80 cents a unit

Published on Jan 10, 2014 9:21 PM

OFFICE landlord OUE Commercial Real Estate Investment Trust (OUE C-Reit) is offering units at 80 cents each for its proposed $346 million listing on the Singapore Exchange.

This works out to an indicative distribution yield of 6.8 per cent for this year, and 6.89 per cent for next year including income support, said the Reit's preliminary prospectus filed Friday.

The income support lasts for five years and applies to OUE Bayfront in Collyer Quay, one of the vehicle's two properties.

The vehicle also holds Lippo Plaza in central Shanghai, a 36-storey commercial building used for office and retail purposes.

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