SINGAPORE (Sept 30): At an IPO roadshow on Sept 18 for DBS private bank’s clients, investors were impressed by Ng Hsueh Ling’s presentation of the Singapore Exchange’s latest — and probably most successful — IPO, Lendlease Global Commercial Real Estate Investment Trust (Lendlease REIT). Ng, former CEO of Keppel REIT’s manager, is now a director of Lendlease REIT’s manager, while Kelvin Chow, former chief financial officer of Keppel REIT’s manager, is CEO of Lendlease REIT’s manager.
The interest in Lendlease REIT’s placement tranche implies that it will be the hottest IPO this year, following the tepid reception of the three REITs with US assets in May and June. The absence of well-known high-net-worth names that anchored the US REITs among Lendlease REIT’s cornerstone investors is definitely a positive factor, investors say.
