(UI Boustead REIT's deal comes after NTT DC REIT and Centurion Accommodation REIT listed in Singapore last year. "UI Boustead REIT Seeks to Raise Nearly US$950 Million in Singapore IPO," at 0110 GMT on Feb. 27, incorrectly said UI Boustead's deal size beats that of NTT DC REIT's IPO and that it is the largest REIT and business trust listing in Singapore since NetLink NBN Trust. The correct version follows: )
By Megan Cheah
UI Boustead REIT plans to raise around US$950 million in an initial public offering.
The real-estate investment trust, which was spun off from engineering and technology company Boustead Singapore, plans to raise 1.2 billion Singapore dollars, equivalent to US$949.3 million, in the offering, The trust plans to set the offering's unit price at S$0.88 each, it said in its IPO prospectus.
The logistics and industrial-focused REIT has secured cornerstone investors including Japan's Amova Asset Management, Amundi Singapore, JPMorgan Asset Management Singapore and DBS Bank. The S$1.2 billion figure includes proceeds to be raised from cornerstone investors, as well as the REIT's sponsor.
UI Boustead REIT's deal comes after NTT DC REIT and Centurion Accommodation REIT listed in Singapore last year.
DBS, United Overseas Bank and Citi are among banks advising on UI Boustead's IPO.
Singapore is one of the largest markets for REITs and property trusts in Asia, with nearly 40 listed trusts and a combined market capitalization of approximately S$100 billion as of December 2025.
Write to Megan Cheah at megan.cheah@wsj.com
(END) Dow Jones Newswires
March 05, 2026 19:06 ET (00:06 GMT)
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