Allen & Gledhill has advised Far East Hospitality Trust on its S$717 million ($574 million) initial public offering on the Singapore exchange, the second-largest IPO in the city-state this year.
Allen & Overy has acted as legal adviser to the joint financial advisers, global coordinators and issue managers and joint bookrunners and underwriters, with Shook Lin & Bok representing the REIT trustee, DBS Trustee.
The Allen & Gledhill team included partners Jerry Koh, Ho Kin San and Foong Yuen Ping, while the Shook Lin & Bok team was led by Tan Woon Hum and Andrea Ng.
Reuters reported that shares of the trust, which owns hotels and serviced residences, rose more than 6 percent above the initial public offering price on their market debut on Monday, indicating healthy demand for dividend yield and exposure to Singapore's buoyant tourism sector.
DBS Bank, Goldman Sachs, HSBC and OCBC have acted as the joint financial advisers, global coordinators and issue managers and joint bookrunners and underwriters to the listing.
Ranajit Dam is Southeast Asia Editor at ALB. Follow us on Twitter: @ALB_Magazine.
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