OUE to kick off Reit IPO

By Shabnam Muzammil:

Property development firm Overseas Union Enterprise (OUE) has obtained "eligibility to list" on the Singapore Exchange (SGX) after reports that the group will be launching an IPO for a retail and hotel Reit.

According to The Business Times, OUE's wholly-owned subsidiary OUE Hospitality Reit Management will be headed by Chong Kee Hiong, former CEO of Ascott. However, the size of the offering that will likely take place in mid-July has not been disclosed.  Media reports have said it could be lower than the Mapletree Greater China Commercial Trust IPO which took place in February.

OUE had earlier stated it would inject Mandarin Orchard Singapore (pictured) and Mandarin Gallery into the trust's portfolio.

The IPO advisers are expected to be Credit Suisse, Goldman Sachs and Standard Chartered.

Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg

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