Stocks to watch: Cromwell E-Reit

THE following company saw new developments that may affect trading of its securities on Wednesday (Oct 19):

Cromwell European Real Estate Investment Trust (Cromwell E-Reit): The Reit’s manager on Tuesday announced its acquisition of a freehold, five-building light industrial complex in Copenhagen for 117.4 million Danish kroner (S$22.3 million). The acquisition consideration represents a 7 per cent discount to the asset’s independent valuation, and the Reit’s manager does not expect the transaction to have a material effect on its net tangible assets. Cromwell E-Reit closed 1.9 per cent or 0.03 euro higher at 1.59 euros on Tuesday, after the announcement.