SPH REIT Rises in IPO Debut on Yield Attraction: Singapore Mover
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SPH REIT, the owner of the Paragon mall along Singapore’s shopping belt, gained on its first day of trading as investors were attracted by returns higher than those of comparable properties.
The shares jumped 9.4 percent to 98.5 Singapore cents at the close of trading. The stock was offered at 90 Singapore cents apiece, the top end of its price range. They started trading at 2 p.m. Singapore time and were 37 times subscribed.