SINGAPORE, June 30, 2014 - A Japanese golf course operator said Monday it is planning a public listing in Singapore, aiming to raise up to Sg$782 million ($626 million) through an initial public offering.
Accordia Golf Trust (AG Trust) said in a preliminary prospectus lodged with the city-state's central bank that it would offer 782 million units at between 97 Singapore cents and Sg$1.0 in the IPO slated for July.
If the IPO goes through, it will become the first business trust backed by golf courses to be listed in Asia, according to media reports.
Listing on the Singapore Exchange is planned for August 1.
Proceeds from the IPO will be used to fund the acquisition of the trust's initial portfolio comprising 89 golf courses in Japan, most of which are located in the country's biggest metropolitan areas, the prospectus said.
Japan is the world's third largest golf market after the US and Britain, according to a study carried out by property consultancy CB Richard Ellis that accompanied the prospectus.
Japan had more than 2,400 golf courses and 3,400 driving ranges as of February 2013, it said.(AFP)
请加入我们的Facebook、Twitter和G+，或者新浪微博获取最快资讯，我们的微信号是：nanyangpost
