REIT IPO - Cromwell European REIT

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.
It will compromise European properties with a focus on Europe's small cities.

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. Market sources said CEReit will have more than 70 properties across Europe and a target distribution yield above 6%

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 revenue from its funds management business," the company said in a statement.

I will be keeping a look-out for this IPO for any further news. I feel that it is similar to IREIT with properties in Europe.

More information can be found here.