UI Boustead REIT opens 8.5% below IPO price amid broader market retreat
The Straits Times
It is the first 2026 mainboard listing, and follows a strong offering pipeline in 2025. Read more at straitstimes.com.
SINGAPORE – UI Boustead REIT, Singapore’s first mainboard and REIT listing in 2026, fell at its trading debut on March 12, along with broader losses in the Singapore market.
It commenced trading at 2pm and opened at 80.5 cents, 8.5 per cent below its initial public offering (IPO) price of 88 cents, excluding the allotment option.
UI Boustead REIT’S IPO follows a strong offering pipeline in 2025, with about US$2 billion (S$2.55 billion) raised in proceeds, according to data from consultancy Deloitte. IPO proceeds came in at US$34 million in 2024 and US$35 million in 2023.
The offering, which closed on Wednesday, comprised a public offer of 33.9 million units and an international placement of 643.3 million units.
The public offer drew 4,697 valid applications for 99.9 million units, translating to a subscription rate of 2.9 times.
In total, the exercise raised gross proceeds of about $973.6 million. The offering price represented a price-to-net asset value of one, with a projected distribution yield of 7.8 per cent for financial year 2027.
Singapore shares declined as elevated crude prices and Middle East tensions unsettled investors. STI down 0.3%. Read more at straitstimes.com.
Company has invested roughly $3 billion in Singapore to date. Read more at straitstimes.com.
The new game accrued 2.2 million sales in its first four days and earned rave reviews from fans online. Read more at straitstimes.com.
Explore how AI could lead to 'creative destruction' for some companies, disrupting industries and impacting jobs. Read more at straitstimes.com.
Oil-driven shocks significantly affect the yen given Japan’s reliance on imported energy. Read more at straitstimes.com.
Singapore blue-chip stocks decline as Brent crude price movements hold equities to ransom. Read more at straitstimes.com.
Bank had previously projected the rate cuts to begin in June. Read more at straitstimes.com.
It is the first 2026 mainboard listing, and follows a strong offering pipeline in 2025. Read more at straitstimes.com.
Force majeure notices signal a worsening LNG supply crunch for Asia, including Singapore, potentially requiring stabilisation measures. Read more at straitstimes.com.
China is the world’s biggest oil importer and a major fuel exporter. Read more at straitstimes.com.
The global race to build AI infrastructure is fuelling an unprecedented boom in data centres. Read more at straitstimes.com.
A sale might value HSBC Life Singapore at more than US$1 billion, sources said. Read more at straitstimes.com.
It potentially marks the first known major cyberdisruption of a US organisation since the start of the Iran war. Read more at straitstimes.com.