Cromwell Reit eyes 7.5-7.7% yield in 1.25b euro Singapore IPO

Singapore

THE Singapore initial public offering (IPO) of Cromwell European Real Estate Investment Trust (Reit) could raise up to 1.25 billion euros (S$2.02 billion) and provide a yield of between 7.5 and 7.7 per cent, according to a preliminary prospectus lodged on Friday.

The IPO for the Reit, which will hold commercial, industrial and retail properties in six European countries, is targeted for Sept 21, with listing set for Sept 28. It will be the second-largest IPO in Singapore this year after NetLink NBN Trust's S$2.3 billion in July.