The IPO portfolio comprises 97 predominantly freehold commercial buildings across the UK, with total net internal area of around 2.6 million sq ft and total site area of 47 ha.
SINGAPORE (Jan 17): The year’s potential first real estate investment trust IPO, Elite Commercial REIT lodged its prospectus on Jan 17. Trading is likely to be in sterling and distributions will be declared in GBP. Each unitholder will receive his distribution in Singapore dollars equivalent of the GBP distribution declared, unless he elects to receive the relevant distribution in GBP by submitting a “Distribution Election Notice” by the relevant cut-off date.
Initially, 100% of annual distributable income from listing date till end of projection Year 2021 will be distributed. Subsequently, the REIT will distribute at least 90% of its annual Distributable Income for each financial year. Distributions will be semi-annual.
