Japan's APL Plans To Raise Up To S$515m Through Listing Of REIT

Source : Channel NewsAsia, 18 October 2007

Japan's Asia Pacific Land is planning to raise up to S$515 million through a listing of its property trust on the Singapore Exchange.

It is offering nearly 412 million units through a placement tranche and a public offer.

The units are expected to be priced at between S$1.05 and S$1.25 each after a bookbuilding process.

The public offer will comprise about 20.6 million units.

The initial portfolio of the REIT will comprise nine retail and office properties in Japan.

These properties are worth 66 billion yen or S$832 million. - CNA/ms