Taken from the report in Business Times http://www.businesstimes.com.sg/real-estate/cromwell-european-reit-gets-singapore-exchange-nod-for-s16b-ipo
CROMWELL European Real Estate Investment Trust (Cereit), a Singapore Reit with portfolio of assets in Europe, has received an Eligibility-to-List (ETL) nod from the Singapore Exchange for its estimated one billion euros (S$1.6 billion) initial public offering (IPO).
The IPO could take place at the end of September, if all conditions are met, said the Reit's sponsor Cromwell Property Group in a statement on Thursday.
With reference to Netlink IPO listing back in July, IPOTRUST reckoned that Cromwell Europen Reits $1.6Bil IPO could potentially face demand issues. IPO of this size may not be easy to get enough funds support in Singapore Market. IPOTRUST believes a huge part of the IPOs will be allocated to retail investors. The public should be able to get the IPOs easily if they subscribe via ATMs. Hence, IPOTRUST need not pursue this IPO.
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