JD.com-backed Sasseur REIT to list on SGX; IPO to raise $396 mil

SINGAPORE (Mar 9): Sasseur REIT, the operator of China malls, on Wednesday submitted its listing prospectus to the Monetary Authority of Singapore (MAS).

The REIT is part of Shanghai-based developer and operator of retail outlet malls Sasseur Group, which runs nine outlet malls in eight major Chinese cities.

The REIT plans to raise $396 million in its initial public offering (IPO) that comprises 495 million units, representing. 42% of the issuer’s post-listing stock of 1.18 billion units, at 80 cents per unit, giving it a potential market cap of $944.2 million.

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