EC World REIT to sell 7.5 mil units to public at 81 cents in IPO

SINGAPORE (July 20): EC World REIT has announced the launch of its Initial Public Offering (IPO), making it the first Chinese logistics and e-commerce logistics REIT to list on the Mainboard of the Singapore Exchange.

The offering of 188.13 million units comprises an international placement of 180.63 million units and 7.5 million units to the Singapore general public. Each unit is priced at 81 cents.

Annualised distribution yield for FY16 and FY17 is expected to be 7.1% and 7.3% respectively, says EC World Asset Management, the REIT’s manager.

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