Boustead Singapore has submitted regulatory applications to the Monetary Authority of Singapore (MAS) and the Mainboard of Singapore Exchange Securities Trading (SGX-ST) for the proposed REIT listing of some of its assets.
The proposed sponsor of the REIT is UIB Holdings, and Boustead holds a 20% effective shareholding in UIB.
Boustead announced on June 12 that it was conducting strategic reviews for the sale of its stake in some of its logistics and industrial real estate assets to a REIT.
Boustead says that the IPO and listing is subject to among other things, market conditions, commercial negotiations with various counterparties, the relevant regulatory, shareholders’ and other approvals being obtained and the execution of definitive agreements by the relevant parties.
Shares in Boustead Singapore closed 2 cents higher or 1.361% up at $1.49 on Sept 2.
