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Bloomberg
Lendlease Global Commercial REIT’s stellar IPO debut is yet another testament to the hunger for yield among Asian investors.
The real estate investment trust, part of Australia’s Lendlease Group, started trading on the Singapore bourse on Wednesday, surging 6.3 percent at the open from its offer price. This is the biggest jump among the city-state’s REITs in the past six years, since SPH REIT opened at 8.8 percent above its offer price in 2013. “People are chasing it for the yield,†said Jin Rui Oh, a Singapore-based analyst at United First Partners.