UI Boustead REIT IPO draws $1.9b in demand with 3.3x subscription

The listing raised approximately $973.6m.

UIB REIT Management Pte. Ltd., the manager of UI Boustead REIT, has completed the initial public offering (IPO) of approximately 677.18 million units with respect to the REIT’s proposed listing on the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST).

The placement tranche was about 3.3 times subscribed, representing $1.9b of demand, according to a press release.

The IPO raised approximately $973.6m, making it the first REIT listing and the first Mainboard listing on the SGX-ST in 2026, as well as the largest public offering in Singapore so far this year. The units were offered at $0.88 each.

The offering comprised an international placement of 643.28 million units and an offering of 33.9 million units to the public in Singapore.

A further 54.63 million units were over-allotted and allocated to applicants under the placement tranche.

For the Singapore public offer, which closed at noon on 10 March 2026, the company received 4,697 valid applications for 99.93 million units worth around $87.9m.

This represents a subscription rate of 2.9 times for the 33.9 million units available.

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