Australia's Cromwell gets SGX nod for billion-euro Reit IPO

Singapore

THE Singapore Exchange's (SGX) goal of becoming a global real estate investment trust (Reit) hub got a boost on Thursday with Australia-listed Cromwell Property Group advancing plans to raise one billion euro (S$1.61 billion) through a listing of Europe-based assets at the end of September.

Cromwell announced those details after SGX issued an eligibility-to-list letter, which is conditional approval for Cromwell to proceed with the application for the initial public offering of the Cromwell European Reit (CEREIT).