The proposed Centurion Accommodation REIT is seeking to raise S$771.1m (€513m) and is expected to list on the Singapore Stock Exchange by the end of this month.
The initial public offering (IPO) has attracted 16 cornerstone investors, including institutions like Cohen & Steers, Principal Global Investors, DWS Investment Australia and Barings Singapore. The group also includes Hong Kong-based group firms such as FIL Investment Management, Value Partners and Prudential’s Eastspring Investments.
UBS and Singapore’s leading regional bank, DBS, have also participated in the IPO, according to a prospectus.
The proposed vehicle’s parent, Centurion Capital Investments, has also agreed to subscribe for 414m units in the IPO, which was approved by shareholders this week.
Additionally, Centurion is offering an international placement tranche and public offering.
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