SINGAPORE (Feb 5): The manager of Elite Commercial REIT has announced Wednesday that the public tranche of its initial public offering (IPO) was 8.3 times subscribed.

Highly watched as the Singapore Exchange’s first Mainboard listing this year, Elite Commercial REIT had launched its IPO last week, putting up a total of 114.69 million units up for grabs at £0.68 ($1.21) apiece.

As at the close of the offering at noon on Feb 4, Elite Commercial REIT received applications for about 47.85 million units under the public tranche. Some 5.73 million units were offered to the public in Singapore.

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