Towards Financial Freedom
SPH Reit grants over-allotment option for IPO
SPH Reit grants over-allotment option for IPO. SPH Reit has granted an over-allotment option for its IPO for any necessary stabilising action to be taken related to the unit price. The number of units available under the over-allotment option is 56m, representing 18.1% of the offering of 308.9m units for SPH Reit, which will list with Paragon and Clementi Mall in its initial portfolio. Credit Suisse, as the global coordinator and issue manager for the Reit's listing, can buy up to all the units available under the over-allotment option at the offering price of 90 cents each, to maintain or stabilise the market price for the units. Institutional interest has been strong for SPH Reit, with indications of interest amounting to 42 times the number of placement tranche units. (Business Times)
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