Singapore Exchange (SGX) is pleased to welcome the listing of OUE Hospitality Trust on Mainboard, under the stock code, “SK7”.
OUE Hospitality Trust invests in hospitality and hospitality-related real estate. Its initial portfolio comprises Mandarin Orchard Singapore, a well-known leisure and business hotel located in Singapore’s key shopping belt, and Mandarin Gallery, an adjoining retail mall with flagship stores of international brands.
Chong Kee Hiong, CEO of the REIT Manager, said: “We are encouraged by the overwhelming response from investors. The strong demand from the market highlights that investors recognise the sound asset fundamentals that underpin the portfolio of OUE H-Trust, as well as the strong backing of our Sponsor, OUE. We thank all for your support and confidence in us, and, we will continue to manage OUE H-Trust to deliver stable and growing distributions to our Stapled Securityholders.”
Magnus Böcker, CEO of SGX, said: “We are pleased to welcome OUE Hospitality Trust to SGX. Their landmark hotel and retail property assets add to the strength and diversity of our established REITs and property trusts cluster and provide more investment choice.”
With an estimated IPO market capitalisation of S$1 billion (US$790 million), OUE Hospitality Trust brings the total number of SGX REITs and Property Trusts to 34 with a combined market capitalisation of S$60 billion (US$47 billion).