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Report: EC World REIT's Singapore IPO to price near top end

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Report: EC World REIT's Singapore IPO to price near top end

ECWorld REIT's Singapore IPOis set to be priced near the top end of its price range, Reuters reported,citing IFR.

Accordingto a person close to the transaction, the IPO will be priced at 81 Singaporecents apiece, the report said. The Chinese group is looking to sell 427.6million units in the IPO, according to IFR.

Thecompany had indicateda price range of between 76 Singapore cents and 82 cents apiece.

Accordingto the source cited by the news outlet, the REIT expects to raise around S$346million from the IPO. The units are expected to be listed July 28, the reportsaid.

As of July 19, US$1 wasequivalent to S$1.35.