SINGAPORE, June 21 (Reuters) - Units in Frasers Logistics and Industrial Trust FRAE.SI climbed 1.7 percent in their market debut after a S$903 million ($673 million) initial public offering, Singapore's biggest in three years.
The real estate investment trust, which has a portfolio of Australian properties, is sponsored by Thai tycoon Charoen Sirivadhanabhakdi-backed real estate developer Frasers Centrepoint Ltd FRCT.SI .
The listing follows Manulife US REIT's MANU.SI $519.2 million sale last month, with IPO activity showing signs of recovery in Singapore after a slump last year. ($1 = 1.3424 Singapore dollars)