SPH Reit files prospectus with MAS, aims to raise up to $554m

Media group Singapore Press Holdings took another step closer to the public listing of its real estate investment trust (Reit) on Tuesday, when it filed a key document with detailed company information for prospective shareholders.

The Reit's preliminary prospectus was lodged with the Monetary Authority of Singapore, ending speculation over the timing of the listing.

The listing will hope to raise between $523 million and $554 million, with an offer of 308.88 million units at between 85 to 90 cents each.

SPH will be injecting its retail malls, including the upmarket Paragon, into the billion-dollar Reit. Under the deal, SPH will sell Paragon and Clementi Mall to the Reit for $2.5 billion and $570.5 million respectively.

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