HONG KONG, May 11 (Reuters) - Manulife US REIT is set to
price its Singapore initial public offering at the top of
expectations, IFR said, raising $519.2 million in the country's
biggest new listing in almost two years.
The real estate investment trust (REIT) offered 625.52
million units that are slated to be priced at $0.83 each,
Thomson Reuters publication IFR reported, citing a source close
to the transaction.
At that price, the REIT forecast a distribution yield of 6.6
percent in 2016 and 7.1 percent in 2017, according to its IPO
prospectus.
The IPO was the biggest in Singapore since the $611 million
listing of Accordia Golf Trust ACCO.SI in July 2014.