SPH to list two malls worth $3 billion in REIT IPO

SPH to list two malls worth $3 billion in REIT IPO

SINGAPORE - Singapore Press Holdings Ltd (SPH) said on Monday it plans to list two shopping malls valued at S$3.07 billion via a real estate investment trust (REIT) listing scheduled for July.

SPH plans to hold 70 per cent of the units in SPH REIT, whose assets are the Paragon shopping mall in the city-state's prime Orchard shopping district and Clementi Mall in a western suburb.

The Singapore publishing and property firm plans to distribute 18 Singapore cents a share as a special dividend to shareholders after the listing, it said in a statement.

Credit Suisse, DBS and Oversea-Chinese Banking Corp are joint bookrunners for the IPO, IFR, a Thomson Reuters publication, reported earlier.

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