LendLease Global Commercial REIT is going ahead with their IPO.
However, the number of properties that will be injected into the IPO will only be 2, contrary to what I have speculated in my first article.
The Australian based group LendLease will be looking to a placement and public offer of 387 million units.
The IPO price is set at S$0.88.
In total, there will be 1,167 million units outstanding. This will make the market capitalization of LendLease Global Commercial REIT to be close to S$1.56 billion.
This IPO is a strange for the following reasons:
I struggled to find what is the indicative dividend yield of LendLease Global Commercial REIT It is a mixture of office and retail REIT LendLease Global Commercial REIT’s portfolio have a fair bit of concentration risk. You can liken it to IREIT Global’s portfolio concentration LendLease Global Commercial REIT’s 2021 dividend yield of 6.01%...
