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Cromwell E-Reit units slide 6% after married trade

UNITS of Cromwell European Real Estate Investment Trust (Cromwell E-Reit) shed some 6 per cent on Tuesday after a sizeable married trade in the morning.

Trading data showed that about 217.75 million units - nearly 10 per cent of the Reit's outstanding units - changed hands at 8.32am, at an intraday low of 0.455 euro apiece. The Reit's counter opened at 0.470 euro before sliding 6.12 per cent to 0.460 euro as at 3.55pm. 

About 15.26 million of the Reit's units are traded daily, on a 15-day moving average.

Traders told BT that they were not aware of the circumstances behind the married trade.

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Cromwell E-Reit's largest unitholders include Singaporean billionaire Gordon Tang, who holds a controlling stake in Singapore-listed property developer SingHaiyi, with a 10 per cent stake. 

Cerberus Singapore Investor LLC (9.98 per cent), Hillsboro Capital (8.33 per cent) and UBS AG (5.03 per cent) round out the top five unitholders. Cromwell Singapore Holdings holds a 24.71 per cent interest in the Reit.