SINGAPORE (Mar 28): The manager of Sasseur REIT says the public tranche of its initial public offering (IPO) was over 3.7 times subscribed.

At the close of the public tranche at 12 noon on Monday, valid applications for an aggregate of 51.4 million units were received.

Sasseur REIT's IPO comprised an international placement of 252.8 million units which included a placement tranche of 51.4 million units; a public tranche of 13.75 million units and commitments from 12 cornerstone investors who subscribed for an aggregate 228.4 million units.

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