HONG KONG, Sept 18 (Reuters) - Cromwell European Real Estate Investment Trust, a property trust sponsored by Australia's Cromwell Property Group (CMW) , launched on Monday an up to 927 million euros ($1.1 billion) initial public offering in Singapore, IFR reported citing a term sheet of the deal.
The base offering for CEREIT, as the trust is called, consists of up to 1.296 billion units in an indicative range of 0.55-0.57 euros each, added IFR, a Thomson Reuters publication. The REIT will also sell up to 334.8 million units to two cornerstone investors, the terms showed.
The units' price is equivalent to a forecast dividend yield of up to 7.7 percent a year for fiscal 2018. ($1 = 0.8374 euros)
News: CMW Australia's Cromwell seeks up to $1.1 bln with Singapore REIT offering -IFR
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Mkt cap ! $1.178B | |||
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