SINGAPORE (Reuters) - EC World Real Estate Investment Trust, backed by Shanghai-based port operator Forchn Holdings Group, plans to raise up to about S$350 million ($260 million) through an initial public offering in Singapore.
The trust, which will hold an initial portfolio of six properties located in Hangzhou, China, plans to offer between 172.4 million and 191 million units at S$0.76 to S$0.82 apiece in the IPO.
Cornerstone investors have agreed to subscribe for between 236.6 million units and 255.3 million additional units, it said in a prospectus filed on Thursday.
EC World will be Singapore's third main board REIT listing this year.
($1 = 1.3457 Singapore dollars)
(Reporting by Aradhana Aravindan; Editing by Kenneth Maxwell)
