Boustead announced on June 12 that it was conducting strategic reviews for the sale of its stake in some of its logistics and industrial real estate assets to a REIT.
Boustead Singapore has submitted regulatory applications to the Monetary Authority of Singapore (MAS) and the Mainboard of Singapore Exchange Securities Trading (SGX-ST) for the proposed REIT listing of some of its assets.
The proposed sponsor of the REIT is UIB Holdings, and Boustead holds a 20% effective shareholding in UIB.
