Slaughter and May advised DBS, Citi and BOC on the initial public offering of Sasseur REIT
Slaughter and May advised DBS Bank Ltd. (DBS), Bank of China Limited, Singapore Branch (BOC) and Citigroup Global Markets Singapore Pte. Ltd. (Citi) on the US law aspects of the initial public offering and listing on the Singapore Stock Exchange of Sasseur Real Estate Investment Trust (Sasseur REIT).
The initial public offering was completed in March 2018 and generated S$240 million after the exercise of over-allotment option in April 2018. DBS acted as sole financial advisor and issue manager, as well as joint global coordinators along with BOC. Citi joined DBS and BOC as joint bookrunners and underwriters. Allen & Gledhill advised on the Singapore law aspects of the offering.
Sasseur REIT is a Singapore real estate investment trust with an initial portfolio comprising four retail outlet malls located in China. The company invests principally in a diversified portfolio of income-producing real estate located in Asia, which is used primarily for retail outlet mall purposes.