As expected, Australian developer Lendlease Global is moving forward with listing its REIT in Singapore. 387.5 million units of Lendlease Global Commercial REIT will be offered to the public at S$0.88 per unit. With the help of cornerstone investors, the trust will raise a total of over a billion Singapore Dollars and own 2 properties in Singapore (313@Somerset) and Milan (Sky Complex), worth about S$1.41 billion.
The public offer opens on Sept 25 at 9pm and closes on Sept 30 at 12pm, with the Reit expected to list on Oct 2. The minimum initial subscription for applications is 1,000 units.
The prospectus is available on MAS website.