S'pore's First REIT to raise up to $25 mln via placement

SINGAPORE Wed Nov 14, 2012 11:46pm EST

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SINGAPORE Nov 15 (Reuters) - Singapore's First Real Estate Investment Trust, which owns healthcare assets, is placing up to 31.6 million units at an indicative price range of S$0.95-S$0.97 each, raising as much as S$30.7 million ($25.1 million).

The First REIT units will yield around 7.4-7.6 percent based on the offer price, according to a term sheet seen by Reuters.

First REIT units, which are suspended from trading, were last transacted at S$0.985, down 1.5 percent. The trust is sponsored by Indonesia's Lippo Karawaci. ($1 = 1.2227 Singapore dollars) (Reporting by Kevin Lim; Editing by Richard Pullin)