SINGAPORE — The initial public offering of OUE Commercial Real Estate Investment Trust has drawn strong support from investors, with the public tranche 4.76 times subscribed, the trust manager said on Friday after balloting was concluded.

OUE C-REIT offered 208 million units at 80 cents each to raise gross proceeds of S$166.4 million, with the public tranche comprising 56.25 million shares and the placement tranche accounting for the balance of 151.75 million shares. The placement tranche was fully taken up by institutional investors.

OUE C-REIT’s initial asset portfolio comprises OUE Bayfront and Lippo Plaza, which are commercial properties strategically located in Singapore and Shanghai, respectively.

OUE C-REIT units are expected to commence trading on the Singapore Exchange on Jan 27.

See OUE Commercial REIT IPO Analysis here.

OUE Commercial REIT IPO Prospectus.

Official Announcement for OUE Commercial REIT Balloting Result here.