UI Boustead Real Estate Investment Trust has started premarketing an initial public offering on the Singapore Exchange, according to a term sheet reviewed by Reuters on Monday.
Investor education is scheduled to begin from February 9, with key details such as the offer size and lock-up period yet to be finalised. The REIT focuses on logistics and industrial properties, primarily in Singapore.
The proceeds are expected to be used by the company for the acquisition of properties, payment of transaction costs, partial repayment of existing facilities or loans and working capital, the term sheet said.
Citigroup C.N is a joint global coordinator and joint bookrunner for the offering, according to the document.
Reuters
