Perennial ends at S$1.04 in mainboard debut trading

Singapore

PERENNIAL Real Estate Holdings Limited closed its debut trading on the Singapore Exchange mainboard on Friday at S$1.04, after an opening price of S$1.05 which gave it a market capitalisation of S$1.2 billion.

Its new status followed a reverse takeover deal involving Catalist-listed night-spot operator St James Holdings and the acquisition of all the units in Perennial China Retail Trust (PCRT). With the acquisition, Perennial Real Estate is now a commercial property developer with large-scale mixed-use integrated developments in China, two of which are the largest high-speed railway commercial hubs in the country. Its properties in Singapore include Capitol Singapore, Chijmes and TripleOne Somerset. In China, its projects include the Chengdu East High Speed Railway Integrated Development and Xi'an North High Speed Railway Integrated Development.