24 Aug 2017: CROMWELL European Real Estate Investment Trust (Cereit), a Singapore Reit with portfolio of assets in Europe, has received an Eligibility-to-List (ETL) nod from the Singapore Exchange for its estimated one billion euros (S$1.6 billion) initial public offering (IPO).
SGX has issued Cromwell with its Eligibility-To-List with regard to its IPO.
Listing is expected to commence at end-September 2017.
Cromwell European REIT (CEREIT)
Australia-listed Cromwell Property Group's REIT IPO will comprise of European office properties
As of 31 December 2016, Cromwell posted a market capitalization of $1.7billion and total assets under management of $9.8 billion across Australia, New Zealand and Europe.
Goldman Sachs and UBS are joint issue manager for the IPO, with DBS operating alongside them as global coordinators.
According to Cromwell, it intends to hold a sponsor stake estimated at 10% in CEREIT following its public float. "The IPO reflects Cromwell's stated strategy of diversifying capital sources and achieving recurring ......