Cromwell European REIT’s public offering 3.1 times subscribed

Cromwell European REIT’s public offering 3.1 times subscribed

By: 
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

Stratech's controlling shareholders seeking stay of winding-up order

SINGAPORE (Sept 20): A Singapore court has granted applications to wind up The Stratech Group and its subsidiary, Stratech Systems, after the group failed to receive the necessary support for proposed schemes of arrangement. See: Stratech to receive funds from controlling shareholders, plans to propose scheme of arrangement See also: Stratech to call for rights issue as founders pump in more funds See also: Auditors flag Stratech's ability as going concern One of Stratech’s three secured creditors, who held more than 50% of the company’s $6 million in secured debt, did not agre....
Read More >>

Easy for Hongkong Land to find replacement for tenant HNA: DBS

SINGAPORE (Sept 20): China-based HNA Group reportedly surrendered eight floors at Three Exchange Square in Hongkong’s Central with lettable area of 88,000sf. This move should not surprise the market as this conglomerate has been reducing its business operations in Hong Kong in the previous year. The 33-level Three Exchange Square office tower was developed by property group Hongkong Land and houses the Hong Kong Stock Exchange. HNA’s lease started in June and should have expired in May 2027. According to press reports, China Merchants Bank has agreed to take up four floors for ....
Read More >>

Singaporeans love their banks but remain wary of the lesser-known, finds survey

SINGAPORE (Sept 20): While a majority of Singaporeans view the city state’s financial services sector as more trustworthy than a decade ago, many are cautious towards less familiar sub-industries and new & emerging digital financial services companies. This is according to the inaugural 2018 Financial Services Reputation Index, launched today by MHP Communications and ORC International, which surveyed over 4,000 adults across China, Hong Kong, India and Singapore in August this year. In particular, the survey found that 90% of respondents in Singapore and India rated the reputation....
Read More >>