S-REIT IPOs hit six-year high at $2.24b

This marks the highest point since 2013.

Data compiled by Bloomberg revealed that S-REITs have raised $2.24b (US$1.63b) in IPOs so far this year, the highest since 2013 when first-time share sales by the sector fetched $3b (US$2.18b). REITs also account for the bulk of all IPOs that have taken place in Singapore in 2019, representing 97% of all fundraising, according to Bloomberg.

Also read: REITs eyed to boost Singapore's IPO landscape

The largest REIT IPO in Singapore this year was the $841.87m (US$612m) listing by Prime U.S. REIT, followed by Eagle Hospitality Trust’s $620.40m (US$451m) offering.

Meanwhile, Lendlease Global Commercial REIT began taking investor orders on Tuesday for an initial public offering that could raise as much as $740.3m (US$538m) in what is expected to become the island-state’s third-largest IPO this year.

Trusts have been taking advantage of high stock prices to conduct IPOs and additional share sales, whilst investors are shopping for yield in a low interest rate environment.

Here’s more from Bloomberg.

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