IREIT Global, a real estate investment trust, has lodged its preliminary prospectus with the Monetary Authority of Singapore for a listing on the SGX, according to local media reports.
IREIT Global plans to offer a total of 169.2 million units in the placement and public tranche at 88 cents per unit. Another 253.9 million units will be subscribed by Chinese property tycoon Tong Jinquan.
The IPO is expected to raise $372.4 million in gross proceeds.
IREIT Global invests mainly in office properties in Europe and other real estate-related assets. It has an initial portfolio of four office properties in Germany valued at about $483 million. Located in Bonn, Darmstadt, Münster and Munich, they have a total net lettable area of 1.31 million square feet.
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