Centurion Reit Eyes $ 1.18 billion appreciation, which raised $ 771.1 million in Singapore IPO

Centurion accommodation Reit said that it strives for a valuation of a maximum of S $ 1.51 billion ($ 1.18 billion) in its original public offer in Singapore, making it possible this year one of the biggest offers in the country.

The company wants to collect S $ 771.1 million by offering 216.2 million shares to institutional investors on S $ 0.88 each, according to its prospectus submitted on Thursday.

In addition, Cornerstone investors, who are large institutional investors who subscribe to an IPO before it is opened to the public, will buy 614 million units for the same price.

After the offer, De Reit will overtake the current market capitalization of NTT DC Reit of $ 978.7 million, after the debut of the latter in July, that s $ 773 million and collected the largest IPO in Singapore in four years.

DBS Bank, UBS and Fil Investment Management (Hong Kong) are some of the great stakeholders.

The investment company of real estate was split off from the Singapore- Shares of Centurion Corp rose no less than 7.4% on Thursday to its record high, but the profit to close 2.3% higher. Lists in Singapore have become a grip since a series of measures were announced in February to rejuvenate the stock market.