Japan's Croesus delays Singapore share listing-IFR
HONG KONG Nov 14 (Reuters) - Croesus Retail Trust (CRT), which focuses on retail real estate in Japan, postponed a Singapore initial public offering of about S$800 million ($654 million) because of weak markets, IFR reported on Wednesday, citing sources close to the deal.
The trust, which is part-owned by Marubeni Corp. and Daiwa House Industry Co. Ltd., decided to delay the deal until early 2013 after meeting potential investors the past two weeks, added IFR, a Thomson Reuters publication.
The IPO was marketed to investors at an indicative yield in the high 7 percent range for fiscal year 2013 and in the low 8 percent range for fiscal 2014, a source with knowledge of the deal said previously.
Citigroup and DBS Group Holdings were joint global coordinators of the IPO, with Standard Chartered also acting as a bookrunner.
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