Retail Tranche results of Far East H-trust is out

FAR East Hospitality Trust’s (Far East H-Trust) retail tranche of 50 million stapled securities was 14.6 times subscribed at the close of its initial public offering yesterday.

The first and only Singapore-focused hotel and serviced residence hospitality trust, which priced sale of its stapled securities at $0.93 apiece, said it had received applications for a total of 732.3 million stapled securities.

The 11.8 million stapled securities reserved for subscription by the directors, management, and employees of the sponsor and the Reit manager were also fully subscribed.

Including a placement tranche of 267.6 million stapled securities – which was approximately 30 times subscribed – the total demand of some 8.8 billion stapled securities under the placement tranche and the public offer (excluding the reserved stapled securities) is about 27.6 times the 317.6 million stapled securities available for subscription (excluding the reserved stapled securities and assuming the over-allotment option is not exercised), or approximately $8.2 billion.

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