United Hampshire US Reit makes tepid debut at US$0.72 on SGX

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UNITED Hampshire US Reit, the first retail real estate investment trust (Reit) with US exposure here, opened for trading on the Singapore Exchange's (SGX) mainboard at US$0.72 apiece, 10 per cent lower from its initial public offering price. Read more at The Business Times.

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Meanwhile, the Reit's international placement of 80.3 million units to investors outside the US drew indications of interest in excess of US$220.1 million or around 3.4 times the value of the placement tranche available for subscription.

The cornerstone investors include Kuang Ming Investments, an investment holding firm privately owned by Philip Ng and family; mutual fund management company Kasikorn Asset Management; director of Wing Tai Property Management Helen Chow; founders of Malaysia-listed piling and foundation firm Pintaras Jaya, Chiu Hong Keong and Khoo Yok Kee; and Bangkok Life Assurance.

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