Centurion soars 7.4% on the back of IPO for Centurion Accommodation Reit

[SINGAPORE] Shares of Centurion soared nearly 7.4 per cent on Thursday afternoon (Sep 11) shortly after it gave details on the proposed listing of its Centurion Accommodation Reit on the main board.

The counter jumped $0.13 to S$1.89, peaking at 1.06pm, having closed at S$1.76 on Sept 10. More than 4.6 million shares changed hands as at 3.26pm.

Centurion called for a trading halt before the market opened, and lifted the halt before the midday trading break ended.

Earlier in the day, it said Centurion Accommodation Reit plans to offer 262 million units at S$0.88 apiece in a mainboard listing.

Following the offering, the Reit will have 1.7 billion issued units, of which 787.4 million units will be held by Centurion Holdings, the Reit’s sponsor, and 614 million units will be held by the 16 cornerstone investors.

Its cornerstone investors include Amova Asset Management, DBS Bank, Eastspring Investments and Lion Global Investors.