Singapore's First REIT to raise up to $30.7m via placement

Singapore’s First Real Estate Investment Trust, which owns healthcare assets, is placing up to 31.6 million units at an indicative price range of $0.95-$0.97 each, raising as much as $30.7 million.

The First REIT units will yield around 7.4-7.6% based on the offer price, according to a term sheet seen by Reuters.

First REIT units, which are suspended from trading, were last transacted at $0.985, down 1.5%. The trust is sponsored by Indonesia’s Lippo Karawaci.