OUE Commercial REIT Falls in Debut Trading: Singapore Mover
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OUE Commercial Real Estate Investment Trust, the second trust Singapore developer OUE Ltd. has listed in the past six months, opened lower on its first day of trading amid concerns that the yield and credit rating are below those of its peers.
The units traded at 77 Singapore cents, 3.8 percent beneath the initial stock offering price of 80 Singapore cents apiece. They closed unchanged. The REIT raised S$346.4 million ($271 million), offering 208 million units to the public and selling an additional 225 million units to cornerstone investors.