Cromwell European Real Estate Investment Trust (REIT) has filed its initial public offering (IPO) prospectus, after putting a stop on its original plan two months ago.
Here are six things investors should know about the potential newest kid on the block.
1. The REIT is set to become Singapore’s first REIT with a diversified pan-European portfolio. Its sponsor is Australia-listed global real estate manager, Cromwell Property Group (ASX: CMW).
2. The IPO portfolio is valued at around €1.35 billion and will include 74 properties across five countries in Europe (Denmark, France, Germany, Italy and the Netherlands) with a focus on office and light industrial/logistics sectors.
3. A total of 428.5 million units will be on offer, which consists of a placement of 392.2 million units to institutional investors and 36.4 million units to the Singapore public, at €0.55…