Prime US REIT to IPO, Priced at $0.88 USD

Market news —

Another American-centered REIT will list in Singapore as Prime US REIT has filed for IPO. 335.2 million units, priced at USD 0.88, will be offered to the public on top of 360 million units taken by cornerstone investors (including Keppel Capital or SPH).

Prime US REIT prospectus shows that the trust owns 11 freehold prime office properties in the USA, with a long weighted average lease expiration (WALE) of 5.5 years. The manager forecast a 7.4% dividend yield for the 2019 year based on the listing price.