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UI Boustead REIT — Singapore's Biggest REIT IPO in Years. Is It Worth Applying For?

UI Boustead REIT ("UIB REIT") launched its IPO at $0.88 per unit and the IPO is open for public subscription from now till  10 March 2026 noon , with trading commencing on 12 March 2026 . This is one of the largest REIT IPOs we have seen in some time. As always, I will walk through the background of the REIT, share what I find compelling, flag the areas of concern, benchmark it against listed peers, and close with the chilli rating. The post is generated with the aid of AI but vetted by Mr. IPO About UI Boustead REIT UI Boustead REIT is a Singapore-focused industrial and business park REIT backed by the sponsor entity UIB Holdings — a joint venture between Macquarie Asset Management (managing over US$588 billion in assets globally) and Boustead Singapore , a long-established SGX-listed engineering and real estate group. The pairing brings Macquarie's institutional capital markets expertise together with Boustead's deep operational knowledge of Singapore...
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Credit Bureau Asia - Balloting Results

Credit Bureau Asia's public tranche of 1.5m shares was 60.8x subscribed.The balloting table is presented below for your reference.



My application for 100,000 shares through the ATM was unsuccessful as the probability is 30%. However, I do have a nice allocation from the placement tranche. I used UOB internet banking to apply this time and I have to say that UOB is much faster in refunding the IPO proceeds (around 4pm) while DBS will usually do the refund after 7pm.

Besides the cornerstone investors that were announced, the following institutional investors subscribed for more than 5% of the Offering Shares (30m):



Readers who participated in the straw poll indicated that 69% of you have decided to subscribe for the IPO. Good luck if you are one of the lucky ones!


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Anonymous said…
I saw you wrote you have some placement shares for this ipo.

Will you be selling all your placement shares on the first day of trading or will you keep the placement shares for long-term investment?
2 December 2020 at 21:37
Mr. IPO said…
Quite difficult to say now as it depends on a few factors, opening price, trading volume etc :) I may sell some and keep some.
2 December 2020 at 22:45
Anonymous said…
I am also vested in this ipo.

So can reveal if this ipo hit what price tomorrow, you will sell some of your placement shares?

And you intend to hold how many shares for longterm?
2 December 2020 at 22:53
Anonymous said…
Dear Mr Ipo,

My Internet Banking shows Provisionally Alloted, however I also received full refund from DBS...

Means never get? Previously it shows successful or not successful, and if provisional usually means I got alloted some leh...

Confused now...
2 December 2020 at 22:55
Mr. IPO said…
If you received full refund - means never get lor. Safest way is to check the CDP account using web or the SGX app.
2 December 2020 at 23:52
Mr. IPO said…
No need to be so specific lah - each person circumstances and risk return expectation different. :) Share with you some options to consider

Option 1 - If open around below $1, hold. If open above $1, sell half keep half. If open >$1.20, run first talk later

Option 2 - Trail the opening. If weak, get out. If have momentum, keep holding until you get stopped out.

Option 3 - If really long term hold, don't look at the share price. Just zzz peacefully every night.
2 December 2020 at 23:59
Anonymous said…
you get stopped out
3 December 2020 at 01:22
Mr. IPO said…
Yes, was stopped out :)
6 December 2020 at 15:04
Anonymous said…
what will be good price to enter this scrip if for long term
17 December 2020 at 18:22
2Y Capital said…
Probably around the price where you think the yield can cover your opportunity cost.
18 December 2020 at 08:03
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