UK IPO News

Far East REIT pre-marketing Singapore's largest 2012 IPO-source

Fri, 20th Jul 2012 03:47

HONG KONG, July 20 (Reuters) - Far East REIT, which owns hotels and serviced residences in Sin

gapore, started pre-marketing on Friday an initial public offering of up to S$700 million ($558 million), the biggest in the Southeast Asian country so far this year, a source with knowledge of the deal said.

The real estate investment trust, sponsored by Far East Organization, comprises seven hotels and four serviced residences in Singapore with about 2,500 rooms, said the source, who was not authorized to speak publicly on the matter.

About half of the orders for the IPO are expected to be covered by cornerstone investors, the source said. ($1 = 1.2541 Singapore dollars)

(Reporting by Elzio Barreto; Editing by Ryan Woo) Keywords: FAREAST REIT/IPO

(elzio.barreto@thomsonreuters.com)(852)(2843-1608)(Reuters Messaging: elzio.barreto.thomsonreuters.com@reuters.net)

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