Another global economic collapse coming soon?

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An honorable member of the Coffee Shop Has Just Posted the Following:

SPH delays S$540 million REIT IPO: Sources

SINGAPORE – Publishing and property company Singapore Press Holdings (SPH) has delayed plans to list a real estate investment trust in a S$540 million initial public offering due to weak global markets, people with knowledge of the deal said on Monday, Dow Jones Newswires reported.

SPH had planned to start taking orders from institutional investors this week but the process has been pushed back, one of the people said. The company still plans to proceed with the deal at an opportune time, but delays to the order-taking means the REIT isn’t likely to list in early July as originally planned, another person said.

The move comes as jittery investors - fearful that the US Federal Reserve may soon scale back its stimulus programme - dump their equities holdings, particularly in emerging markets and dividend-paying investments such as REITs.

Responding to queries from The Wall Street Journal, an SPH spokesman said the company was “monitoring the market conditions and will make an announcement at the appropriate time.”

SPH delays S$540 million REIT IPO: Sources | TODAYonline


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