SINGAPORE (Reuters) - EC World REIT, a company backed by Shanghai-based Forchn Holdings Group, will market an up to S$450 million ($335 million) property trust listing in Singapore to investors later this week, IFR reported on Monday, citing an unidentified person close to the deal.
The real estate investment trust is sponsored by Forchn and will comprise six e-commerce and logistics facilities in China. The REIT is likely to offer a yield of around 7 percent, IFR, a sister publication of Thomson Reuters reported.
The listing would make EC World the third REIT to be floated in Singapore this year.
Forchn could not immediately be reached for comment.
Singapore's DBS Bank is the sole global coordinator for the IPO, IFR said. DBS declined to comment.
($1 = 1.3438 Singapore dollars)
(Reporting by S. Anuradha of IFR and Paige Lim; Editing by Kenneth Maxwell)
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