Dasin Retail Trust said it plans to go public in Singapore on Jan. 20 by listing 549,606,331 units on the main board of the city-state's stock exchange.
The company expects to list and quote the units on the stock exchange's official list Jan. 20 at 2 p.m., local time. It priced its IPO of 151,768,900 units at 80 Singaporean cents apiece, according to a separate filing.
The public offering will comprise 151,768,900 units, which consist of an international placement of 149,768,900 units and a public offering of 2,000,000 units to the Singapore public.
The IPO is subject to an overallotment option of up to 9,343,300 units, representing approximately 6.2% of the offered units, at the same price. Dasin Retail Trust's shareholders, Aqua Wealth Holdings Ltd. and Bounty Way Investments Ltd., granted the joint book runners an option to subscribe for units under the overallotment, which will be exercised by DBS Bank Ltd.
An exercised overallotment option will not raise the total number of outstanding units, according to Dasin Retail Trust.
DBS Bank is the sole financial adviser, global coordinator, issue manager and one of the joint book runners and underwriters to the IPO. Bank of China Ltd. Singapore Branch and Haitong International Securities (Singapore) Pte. Ltd. are the other joint book runners and underwriters.
As of Jan. 19, US$1 was equivalent to S$1.43.