Channel NewsAsia

IREIT Global debuts on SGX

Over 7.4 million units changed hands on its first day of trading, with the counter closing at S$0.89, a climb of 1.7 per cent from its IPO price. 

SINGAPORE: IREIT Global made its debut on the Singapore Exchange on Wednesday (Aug 13). A real-estate investment trust that owns office assets in Germany, IREIT Global is Singapore's first REIT with a portfolio based in Europe.

The counter opened at S$0.88 per unit, the same as its IPO price. It hit as high as S$0.90 in the late afternoon, before finally closing the day at S$0.89 - a climb of 1.7 per cent from its IPO price. Over 7.4 million units changed hands. 

IREIT Global raised about S$370 million from its IPO. The trust said that its offering of nearly 168 million shares received strong support from investors, with the public offer being 7.6 times subscribed.