UI Boustead REIT seeks 807 million dollars in Singapore IPO

UI Boustead REIT is aiming to raise up to S$1.02 billion ($807 million) in a Singapore initial public offering, including an overallotment option, according to a term sheet. The successful listing would represent the largest REIT IPO in the city-state since the S$773 million offering by NTT DC REIT in July 2025. The base deal is structured to garner S$973.6 million at a price of S$0.88 per unit, implying a total market capitalization of approximately S$1.20 billion.

Cornerstone investors have committed to roughly 38.8% of the base deal, excluding the overallotment. These investors include Amova Asset Management Asia, JPMorgan Asset Management (Singapore), Amundis entities from Singapore and Malaysia, and the Jumbo Group of Restaurants.