Singapore Exchange (SGX) is pleased to welcome the listing of OUE Commercial REIT (OUE C-REIT) to its Mainboard, under the stock code “TS0U”.
OUE C-REIT has investments in office properties in leading financial and business hubs in Asia. Its portfolio of properties includes the OUE Bayfront Property in Singapore and the Lippo Plaza Property in the central Huangpu district of Shanghai. OUE C-REIT’s sponsor, OUE Limited, has granted it rights of first refusal for three properties including One Raffles Place and OUE Downtown 2 in Singapore’s financial district and the US Bank tower in downtown Los Angeles, one of the tallest buildings on the U.S. West Coast.
OUE C-REIT CEO and Executive Director Tan Shu Lin said: “We are encouraged by the positive response from the investor community and would like to thank them for their confidence in us. The future ahead for OUE C-REIT is promising as we are well-positioned to ride on growth opportunities as a key real estate player focusing on prime commercial properties in leading financial cities in Asia. Going forward, the OUE C-REIT team will work hard to deliver stable returns and sustainable growth through active asset management, strategic acquisition and prudent capital management.”
“We welcome OUE C-REIT, our first REIT listing in the new year. This new listing further adds to the depth and dynamism of our real estate sector. Investors can through OUE C-REIT access premium real estate in two of Asia’s most established international financial markets. We will continue to expand our pool of REITs to satisfy the investing needs of our investors,” said Magnus Bocker, CEO, SGX.
With an IPO market capitalisation of S$693 million, OUE Commercial REIT brings the total number of REITs and property trusts listed on SGX to 37 with a combined market capitalisation of S$60 billion.