Cromwell European REIT’s public offering 3.1 times subscribed

Cromwell European REIT’s public offering 3.1 times subscribed

PC Lee
29/11/17, 09:55 pm

SINGAPORE (Nov 29): The manager of Cromwell European REIT (CEREIT) says its Singapore public offering was 3.1 times subscribed.

See: Cromwell launches $1.5 bil CEREIT IPO in Singapore

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.

See also: Getting in on the IPO frenzy

See also: Cromwell takes another shot at listing European IPO

AusGroup to buy housing village & facilities on Australia's Melville Island for $11.4 mil

SINGAPORE (Feb 19): AusGroup, the construction and marine services provider, is acquiring an accommodation village plus facilities worth A$11.8 million ($11.4 million). The village comprises a 119-man accommodation camp, kitchen, administration building and recreational facilities at Port Melville, Melville Island in the Northern Territory of Australia, supporting the Northern Territory oil and gas industry and marine transport industry. The acquisition will be made in cash, and comes without mortgage or security interests. AusGroup’s unit, NT Port and Marine, on Monday signed a gen....

Defensive utility stocks could ride infrastructure boom

SINGAPORE (Feb 18): Utility companies, which are usually deemed to be boring defensive stocks, could turn out to be sexy growth counters. This is because the growing demand for better infrastructure and amenities on the back of the population growth and rising affluence in Asia-Pacific is leading to the implementation of new utility projects in the region. “Because of their strategic significance, utility services have traditionally been provided by the public sector. However, ballooning population growth and fiscal constraints have resulted in more of the world’s utility services to sp....

Space tech start-up Transcelestial lasers in on high-speed connectivity

SINGAPORE (Feb 18): A few months ago, inside a second-storey shophouse in Chinatown, Rohit Jha and his team fired up a PlayStation 4 set. ­Using its controllers, he virtually navigated a small toy car, manoeuvring through a track on a remote rooftop of one of the buildings in Chinatown. The tiny vehicle was monitored by a couple of cameras and linked wirelessly to the team’s office a few blocks away. Jha, CEO and co-founder of space tech start-up Transcelestial, says he often demonstrates the capabilities of the company’s product through the PlayStation setup. The effort has paid off. ....