By Yantoultra Ngui and Jun Yuan Yong

SINGAPORE, March 12 (Reuters) - Shares in Singaporean

industrial and logistics real estate investment trust UI

Boustead REIT opened at S$0.805 on Thursday in its

market debut, down from its initial public offering price of

S$0.88 per share.

On Wednesday, UIB REIT Management, the manager of UI

Boustead REIT, said the IPO raised S$973.6 million ($763.49

million), assuming over-allotment option not exercised.

The listing is the first mainboard and REIT IPO in SGX this

year, Singapore's largest listing year-to-date, and also the

biggest REIT IPO since NTT DC REIT's $773 million offering in

July 2025.

Here are some details:

* UI Boustead REIT changed hands at S$0.82 after 10 minutes

of trading on the Singapore Exchange, versus its S$0.88 per

share issue price. The benchmark stock index was down

0.5%.

* Proceeds to be used for buying properties; paying

refundable consumption tax, issue expenses and transaction

costs; and for working capital and cash reserves.

* The REIT's portfolio comprises 23 properties valued at

S$1.9 billion, including 21 leasehold assets in Singapore and

two freehold properties in Japan.

* Key tenants include GlaxoSmithKline and Razer,

with the portfolio's top 10 tenants contributing 54% of net

property income.

* "Investors were attracted to the quality of the REIT's IPO

portfolio and growth prospects," said Jingkai Yew, head of

Southeast Asia equity capital markets at Citi. "The IPO

highlights Singapore's strength as a leading global exchange for

REIT listings, and its proven track record for drawing global

institutional capital into the sector."

* DBS and UOB are serving as joint issue

managers for the IPO, while DBS, UOB and Citi are acting

as joint global coordinators. The joint bookrunners and

underwriters are DBS, UOB, Citi, CGS International, Goldman

Sachs ( GS ) and Maybank.

* The Singapore Exchange has seen growing interest from

potential issuers after a series of moves by the government and

the exchange to strengthen the equities market.

($1 = 1.2752 Singapore dollars)