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Cromwell European Reit
09-09-2017, 11:55 AM,
Post: #1
Cromwell European Reit
Cromwell European Reit hopes to raise $2b from IPO
It will issue units at between 55 and 57 euro cents each

by Marissa Lee
Sep 09, 2017

Cromwell European Reit has lodged a preliminary prospectus for a listing on the Singapore Exchange (SGX) mainboard, with plans to start trading on Sept 28.

The real estate investment trust, which draws rental income from 81 properties in six European countries, expects to raise gross proceeds of up to €1.25 billion (S$2 billion). Units will be issued at between 55 and 57 euro cents a unit.

Based on the IPO price range, the Reit is forecasting a distribution yield of 7.5 to 7.7 per cent for next year.

The offer size of 1.58 billion units consists of an international placement tranche of about 1.2 billion units, a Japanese public offering of 268 million units, and 79 million units that will be offered to the Singapore public.

The public offering will open at 9pm on Sept 21 and close at 12pm on Sept 26, based on its indicative timetable.

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Specuvestor: Asset - Business - Structure.
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29-11-2017, 10:56 PM,
Post: #2
RE: Cromwell European Reit
Cromwell European Reit's public offer 3.1 times subscribed

WED, NOV 29, 2017 - 9:26 PM

CROMWELL European Reit's public offer was about 3.1 times subscribed, its manager said.

In an exchange filing on Wednesday evening, Cromwell Ereit Management Pte Ltd announced that it had received 4,448 valid applications for 111.23 million units.

The Reit had 36.36 million units available for the public offer, which closed at 12 noon on Tuesday (Nov 28).

It had also offered 392.17 million units for an international placement, which was oversubscribed as well. The manager, however, did not say how much more the placement tranche was subscribed by.

Under the placement tranche, DBS Bank Ltd - Treasury Investments was allocated 27.27 million units, while SeaTown Master Fund, which is related to Temasek Holdings, was given eight million units.

UBS Asset Management (Hong Kong) Ltd received 2.7 million units, Cerberus Singapore Investor LLC 1.8 million units, and independent director Lim Swe Guan 396,400 units.

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Specuvestor: Asset - Business - Structure.
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