Strong demand for largest IPO here since 2013

The demand is strong for this one.

The largest initial public offering (IPO) here since 2013 drew strong interest from institutional investors, with big investors oversubscribing the big-investor tranche by six times.

The $903 million Frasers Logistics and Industrial Trust IPO is priced at 89 cents a unit, the top end of the price range. The real estate investment trust will pay a distribution yield of 6.8 per cent for the forecast period of four months to Sept 30, and 7.3 per cent for the full year to Sept 30 next year.

The offering of up to 521.7 million units consists of an international placement tranche of 441.7 units and a public tranche of 80 million units to the public.

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A version of this article appeared in the print edition of The Straits Times on June 11, 2016, with the headline 'Strong demand for largest IPO here since 2013'. Print Edition | Subscribe