Cromwell European REIT debuts at offer price in Singapore

Stoneweg Europe Stapled Trust

30/11/2017 06:00

SINGAPORE, Nov 30 (Reuters) - Cromwell European Real Estate 
Investment Trust  CROM.SI , sponsored by Australia's Cromwell 
Property Group  CMW.AX , started trading at 0.55 euros per unit 
on Thursday, same as the offer price of its 556 million euro 
($659.5 million) IPO in Singapore. 
    Cromwell European REIT had offered 428.5 million units at 
0.55 euros each. Separately, cornerstone investors had agreed to 
subscribe to 581.82 million units. 
    The IPO is Singapore's largest since a $1.7 billion IPO of 
NetLink NBN Trust  NETL.SI , the broadband unit of Singapore 
Telecommunications  STEL.SI . It marks the best year since 2013 
for IPOs on the Singapore Exchange  SGXL.SI , a global hub for 
REITs and property companies.  
    ($1 = 0.8431 euros) 
 
 (Reporting by Aradhana Aravindan; Additional reporting by 
Patturaja Murugaboopathy; Editing by Muralikumar Anantharaman) 
 ((aradhana.aravindan@thomsonreuters.com; +65 6403 5659; Reuters 
Messaging: aradhana.aravindan.thomsonreuters.com@reuters.net)) 
 
Keywords: CROMWELL IPO/