SINGAPORE (Nov 29): The manager of Cromwell European REIT (CEREIT) says its Singapore public offering was 3.1 times subscribed.
This was based on the valid applications received for 111.2 million units for the 36.5 million units available for public subscription, at the close of application on 12 noon, Tuesday.
Cromwell EREIT Management is offering a total of 428.5 million units in its offering at EUR0.55 or 88.5 cents each. This includes 392.2 million units offered under an international placement tranche.
UBS AG, on behalf of the joint bookrunners and underwriters, has over-allotted an additional 45.5 million units, all of which were allocated to the placement tranche.
The units are expected to commence trading on a “ready” basis at 2pm on Thursday.