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EC World prices S$629.8M Singapore IPO


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EC World prices S$629.8M Singapore IPO

aims to raiseS$629.8 million of total proceeds from its initial offering of 188,125,600 units.

Thecompany priced the IPO at 81 Singapore cents per unit. The logistics REIT hadprovided a 76 cents to 82 cents apiece pricerange.

ECWorld added that it expects to raise S$283.4 million and S$194.0 million fromthe issuance of sponsor and cornerstone units, respectively, according to afiling.

Ithas also received a letter of eligibility from the Singapore bourse for thelisting and quotation of units for the public, its sponsor and cornerstoneinvestors.

Billedas the first listed Chinese-specialized logistics and e-commerce logistics REITin the city-state, EC World's initial portfolio comprises six properties inHangzhou, China, valued at roughly 6.36 billion Chinese yuan as at 2015-end.

DBSBank Ltd. is the sole financial adviser, global coordinator and issue managerfor the offering. The joint book runners and underwriters are DBS Bank, ChinaInternational Capital Corp. (Singapore) Pte. Ltd., Maybank Kim Eng SecuritiesPte. Ltd. and Bank of China Ltd. Singapore Branch.

As of July 20, US$1 wasequivalent to S$1.36 and 6.68 Chinese yuan.