Daiwa House Logistics House IPO sees public offer 9.5 times subscribed

daiwa house logistics house ipo sees public offer 9 5 times subscribed

Sumary of Daiwa House Logistics House IPO sees public offer 9.5 times subscribed:

  • SINGAPORE (THE BUSINESS TIMES) – Daiwa House Logistics Trust (DHLT), a real estate investment trust (Reit) that will invest in logistics and industrial real estate assets across Asia, on Thursday (Nov 25) announced that the public offer of 25 million units to Singapore investors under its initial public offering (IPO) was 9.5 times subscribed.
  • “We believe that this is testament to the attractiveness of our portfolio of high-quality modern logistics properties, as well as the strength of our sponsor – Daiwa House Industry Co, one of the largest construction and real estate development companies in Japan.
  • ” DHLT plans to use the bulk of the gross proceeds from the IPO – together with the draw-down on 35.6 billion yen ($421.1 million) of loan facilities on the listing date – to fund the $840.5 million purchase of the initial portfolio of 14 logistics properties in Japan.
  • The properties in the IPO portfolio have an average age of 3.7 years with a total land area of 420,393 square metres (sq m);

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