The company will fund its subscription in UIBREIT’s IPO units with $202.8 million from the divestment consideration, with the remainder being earmarked for related costs and working capital.
Ada Lim of OCBC Group Research has raised her fair value for Boustead Singapore after it received the nod from SGX to list its REIT spin off, the UI Boustead REIT.
According to Boustead Singapore on Feb 10, it is expecting total proceeds of $258.7 million from the IPO.
