(Updates price, adds details on company, background)
SYDNEY, Nov 8 (Reuters) - Australia's Charter Hall Long WALE REIT CLW.AX property trust received a subdued reception from investors on the first day of trading even though the offer amount had been cut and the projected yield increased after fund managers baulked at an initial float plan. spin-off from parent Charter Hall Group CHC.AX raised A$827 million ($637.04 million) rather than the A$1.12 billion that had been proposed initially, after the seller decided to retain more debt to increase the yield while reducing the IPO amount. Bond yields had surged during the initial offering period.
Shares in the trust, which contains properties leased to government and corporate tenants, were trading at A$4.01 by 0107 GMT, in line with the listing price of A$4 a share.
The Charter Hall Long WALE REIT listing came a day after shares in Australia's biggest chicken producer, Inghams ING.AX closed 2.2 percent higher on their market debut. float had also been repriced lower by its owner, U.S. private equity group TPG Capital Management.
Meanwhile, a plan by TPG to launch Australia's biggest listing this year, which could value all of utility Alinta Energy at up to A$3 billion, has been delayed at least a week, a person familiar with the matter said on Monday, citing market jitters on the outcome of the U.S. presidential election. = 1.2974 Australian dollars)