Boustead files for REIT listing on the SGX Mainboard

It submitted applications on behalf of UIB Holdings Limited.

Boustead Singapore Limited has applied to list a real estate investment trust (REIT) on the Mainboard of the Singapore Exchange (SGX).

Boustead said in a bourse filing that it submitted applications to the SGX and the Monetary Authority of Singapore on behalf of UIB Holdings Limited in relation to a proposed initial public offering (IPO) and listing on the SGX of a REIT whose IPO portfolio is proposed to include Boustead’s stakes in some of its Singapore logistics and industrial real estate assets and other assets not held by Boustead.

The company, through its real estate division Boustead Projects Limited, holds 20% effective shareholding in UIB.

Boustead reiterated that there is no certainty that the IPO or listing will proceed and that it 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.