Summary

Boustead Singapore received approval from the Singapore Exchange to list UI Boustead REIT, which will include 23 industrial properties valued at $1.9 billion. Boustead will divest 15 of these properties to the REIT, expecting a $154.6 million gain. The REIT will provide Boustead with geographic diversification and a platform for future growth.

https://www.straitstimes.com/business/companies-markets/boustead-gets-sgx-nod-for-reit-listing-eyes-154-6-million-gain-from-divestments?ref=top-stories