Singapore's largest REIT IPO since 2013 is 4.6 times subscribed, with eyes next on how the opening trade will be when the gong is struck at 2 pm on Monday, July 14.
A total of nearly 599.9 million NTT Data Centre REIT units were sold at US$1 each.
Besides a public tranche of 30 million units, which was 8.9 times subscribed, the placement tranche was around 4 times subscribed.
In addition, Merrill Lynch (Singapore), as stabilising manager, has been over-allotted an additional 51.47 million units, all of which were allocated to applicants under the placement tranche.
GIC, Singapore's sovereign wealth fund, has notably positioned itself as the cornerstone investor by taking up a stake of 9.8%.
According to a breakdown provided by NTT DC REIT, there were a total of 7,086 applicants for the public tranche, and a consistent balloting ratio of 25:50 was applied.
The most popular number of units applied for was between 10,000 and 19,000 units, and 1,963 successful applicants were each allocated 4,000 units.
Notably, there were applicants who applied 1 million or more units each, and four of the successful applicants received 31,000 units each.
