Boustead Singapore receives approval for industrial REIT listing on SGX
Boustead Singapore will divest 15 properties to its new industrial REIT after SGX approval. The deal is expected to net a gain of about S$154.6 million.
Insights:
Boustead Singapore has received approval from the Singapore Exchange to list UI Boustead REIT on the SGX main board. The company announced today it will divest its interests in 15 properties to the REIT, enabling the formation of a 23-property portfolio valued at S$1.90 billion. This transaction defines the initial asset composition for the REIT and establishes the immediate cash and investment flows for the group.
