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Australia's Cromwell applies for $1.2 bln REIT IPO in Singapore

Published 24/08/2017, 01:51 pm
© Reuters.  Australia's Cromwell applies for $1.2 bln REIT IPO in Singapore
CMW
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SINGAPORE, Aug 24 (Reuters) - Australia's Cromwell Property Group CMW.AX said it has applied for an initial public offering of a 1 billion euro ($1.2 billion) real estate investment trust on the Singapore Exchange.

The company added it has received the Singapore bourse's eligibility-to-list approval.

Cromwell will hold a 10 percent stake in Cromwell European Real Estate Investment Trust after the listing, it said.

The IPO will add to a strong year for listings on the Singapore bourse. In July, NetLink NBN Trust NETL.SI raised $1.7 billion in the largest IPO in Singapore in four years, propelling listings in the city-state to a multi-year high. ($1 = 0.8475 euros)

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