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: