Boustead files for listing of Reit holding its Singapore logistics and industrial assets

The engineering and technology group said in a bourse filing on Tuesday (Sep 2) that its application is on behalf of UIB Holdings, which is the proposed sponsor of the Reit. Boustead holds a 20 per cent interest in UIB through Boustead Projects.

The update comes nearly three months after the company in June said it was conducting “strategic reviews” for the sale of its stakes in some of its logistics and industrial real estate assets to a Reit.

Boustead reiterated that the IPO and listing are subject to market conditions, negotiations with various counterparties, the relevant regulatory, shareholders’ and other approval.

Boustead shares closed at S$1.49 on Tuesday, up S$0.02 or 1.4 per cent.