HONG KONG Nov 14 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.