SINGAPORE, March 12 (Reuters) - Shares in Singaporean industrial and logistics real estate investment trust UI Boustead REIT opened at S$0.805 on Thursday in its market debut, down from its initial public offering price of S$0.88 per share.

On Wednesday, UIB REIT Management, the manager of UI Boustead REIT, said the IPO raised S$973.6 million ($763.49 million), assuming over-allotment option not exercised.

The listing is the first mainboard and REIT IPO in SGX this year, Singapore's largest listing year-to-date, and also the biggest REIT IPO since NTT DC REIT's $773 million offering in July 2025.

Here are some details: 

* UI Boustead REIT changed hands at S$0.82 after 10 minutesof trading on the Singapore Exchange, versus its S$0.88 pershare issue price. The benchmark stock index was down 0.5%. * Proceeds to be used for buying properties; payingrefundable consumption tax, issue expenses and transactioncosts; and for working capital and cash reserves. * The REIT's portfolio comprises 23 properties valued atS$1.9 billion, including 21 leasehold assets in Singapore andtwo freehold properties in Japan. * Key tenants include GlaxoSmithKline and Razer, with theportfolio's top 10 tenants contributing 54% of net propertyincome. * "Investors were attracted to the quality of the REIT's IPOportfolio and growth prospects," said Jingkai Yew, head ofSoutheast Asia equity capital markets at Citi. "The IPOhighlights Singapore's strength as a leading global exchange forREIT listings, and its proven track record for drawing globalinstitutional capital into the sector." * DBS and UOB are serving as joint issue managers for theIPO, while DBS, UOB and Citi are acting as joint globalcoordinators. The joint bookrunners and underwriters are DBS,UOB, Citi, CGS International, Goldman Sachs and Maybank. * The Singapore Exchange has seen growing interest frompotential issuers after a series of moves by the government andthe exchange to strengthen the equities market.

($1 = 1.2752 Singapore dollars)

(Reporting by Jun Yuan Yong and Yantoultra Ngui; Editing by Kevin Buckland)

By Yantoultra Ngui and Jun Yuan Yong