Applications for Sasseur Reit IPO to open on March 21; public offer priced at 80 cents each

Sasseur (Hefei) Outlets (pictured)is one of the four properties featured in Sasseur Reit's IPO.
Sasseur (Hefei) Outlets (pictured)is one of the four properties featured in Sasseur Reit's IPO.PHOTO: SASSEUR GROUP

SINGAPORE - Sasseur Reit, the latest candidate looking to list in Singapore, is offering 266.6 million units at 80 Singapore cents each, according to its registered prospectus filed on Wednesday (March 21).

The real estate investment trust (Reit) that offers exposure to Chinese outlet malls launched a US$300.7 million initial public offering (IPO) this month - the biggest Singapore equity offering so far this year. The Reit is forecasting a distribution yield of 7.5 per cent.

Its offering consists of 252.8 million placement shares and a public tranche of 13.8 million.

Sasseur Reit's portfolio comprises four retail outlet malls in China - Sasseur (Chongqing) Outlets, Sasseur (Bishan) Outlets also in Chongqing, Sasseur (Hefei) Outlets and Sasseur (Kunming) Outlets. They have an average occupancy rate of 95.1 per cent.

The public offer opens at 8pm on Wednesday and closes at 12pm on March 26.

Trading in Sasseur Reit's units will start on March 28 at 9am.