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Australia's Cromwell plans smaller $657 mln REIT IPO in Singapore
November 15, 2017 / 8:50 AM / in 6 days

Australia's Cromwell plans smaller $657 mln REIT IPO in Singapore

SINGAPORE, Nov 15 (Reuters) - Cromwell European Real Estate Investment Trust, a property trust sponsored by Australia’s Cromwell Property Group, filed a prospectus for a 556 million euro ($657 million) listing in Singapore, cutting the size of a previously planned offering.

Cromwell European REIT is offering 428.5 million shares at 0.55 euros each, according to the prospectus. Separately, cornerstone investors have agreed to subscribe to 581.82 million shares.

In September, it launched an up to 927 million euro IPO, but put the listing on hold, citing market conditions. ($1 = 0.8462 euros) (Reporting by Aradhana Aravindan and Anshuman Daga; Editing by Nick Macfie)

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