Martin Lee @ Sg
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Perennial China Retail Trust IPO

Perennial China Retail Trust (PCRT), which deals in retail space in China, will be raising S$776.2 million in an IPO with units priced at S$0.70 each. Out of the 563,570,000 units on offer, 52,128,000 will be for the public.

The trust has an initial S$1.1 billion property portfolio comprises five properties in Shenyang, Foshan and Chengdu.

Based on the offer price of $0.70, PCRT expects to provide an annualised distribution yield of 5.30% for forecast year 2011 and 5.51% for projected year 2012.

This IPO closes on 7th June at 10am. The prospectus of the Perennial China Retail Trust can be found here:

Perennial Reit Prospectus

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