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Singapore Exchange (SGX) today welcomed Frasers Logistics & Industrial Trust to its Mainboard under the stock code “BUOU”.
Based on its portfolio size and market capitalisation, Frasers Logistics & Industrial Trust is the largest initial pure-play Australian industrial REIT listed in Singapore.
The initial portfolio of Frasers Logistics & Industrial Trust comprises 51 industrial properties in Australia across major industrial markets such as Sydney, Melbourne and Brisbane. Its properties total an aggregate gross lettable area of approximately 1.2 million square metres, with tenants from diversified sectors, including the consumer, logistics and manufacturing industries.
Robert Wallace, Chief Executive Officer of Frasers Logistics & Industrial Asset Management Pte. Ltd., said, “We are delighted with the overwhelming support from institutional and retail investors for Frasers Logistics & Industrial Trust’s IPO. This is indeed a vote of confidence in our portfolio and its visible growth potential. With a committed and reputable Sponsor – Frasers Centrepoint Limited, Frasers Logistics & Industrial Trust’s future growth is backed by a unique multi-pronged growth strategy. We look forward to deliver stable and attractive distributions to all investors, together with our experienced Board and management team.”
Chew Sutat, Head of Equities and Fixed Income, SGX, said, “We are pleased to welcome Frasers Logistics & Industrial Trust, the fourth SGX-listed REIT sponsored by Frasers Centrepoint Limited. The high investor interest in the listing of Frasers Logistics & Industrial Trust on SGX, Asia’s leading REIT hub, is evidenced by the strong support from the 15 cornerstone investors and the oversubscription by retail investors.“
With a market capitalisation of S$1.3 billion at IPO, the listing of Frasers Logistics & Industrial Trust brings the total number of SGX-listed REITs and property trusts to 41, with a combined market capitalisation of about S$68 billion.
Frasers Logistics & Industrial Trust opened at S$0.905 today.
