PRIME US Reit made a tepid debut on the Singapore Exchange (SGX) on Friday, closing at its initial public offering (IPO) price of US$0.88. Read more at The Business Times.
Prime US Reit made a tepid debut on the Singapore Exchange on Friday, closing at its initial public offering price of US$0.88.PRIME US Reit made a tepid debut on the Singapore Exchange on Friday, closing at its initial public offering price of US$0.88.
Barbara Cambon, chief executive officer and chief investment officer of KBS US Prime Property Management, the manager of Prime US Reit, said:"The successful IPO of Prime US Reit is a testament to the market's confidence in our stable and resilient IPO portfolio that provides a unique geographically-diversified exposure to the growing US commercial real estate sector, as well as a strong potential for acquisition growth beyond the IPO portfolio through leveraging the established KBS...
"This is our third pure-play US Reit listing this year, bringing the total number of US-focused Reits to five, which demonstrates rising investor interest in US real estate," he noted. Prime US Reit is the third US office Reit to list here after Manulife US Reit and Keppel-KBS US Reit.
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