(Corrects headline to "at least" $409 mln, from "up to" $409
SINGAPORE, July 9 Media group Singapore Press
Holdings Ltd plans to raise at least S$523 million
($409 million) by spinning off some of its property assets via a
real estate investment trust, according to a preliminary
prospectus filed on Tuesday.
Called SPH REIT, the trust's assets will include the luxury
Paragon mall on the prime shopping district of Orchard Road and
the suburban Clementi Mall.
SPH expects gross proceeds of between S$523 million and
S$554 million based on the price range of S$0.85 to S$0.90 per
Credit Suisse is the sole global coordinator and issue
manager, and is also an underwriter with DBS Bank and
Oversea-Chinese Banking Corp.
erica($1 = 1.2800 Singapore dollars)
(Reporting by Kevin Lim and Saeed Azhar; Editing by Miral Fahmy
and David Goodman)