Viva Industrial Trust seeks to raise $463.3 million in IPO
Viva Industrial Trust is seeking to raise $463.3 million through a listing on the Singapore Exchange, nearly half of which will come from a Chinese property tycoon.
The trust owns business parks UE Bizhub East and Technopark@Chai Chee as well as logistics facility Mauser Singapore.
It is offering 211.7 million shares at 78 cents apiece in its initial public offering, it said in its preliminary prospectus lodged with the Monetary Authority of Singapore on Monday. This works out to $165.2 million.
Another $200 million will come from a cornerstone investor, Chinese property tycoon Tong Jinquan who is the chairman of the chairman of Shanghai Summit Property Development.