Cromwell European REIT drops Singapore IPO Plan

 

 

Summary of possible reasons published in the news:

  1. The demand for its units was tepid. Demand from institutional investors wasn’t up to the company’s expectations as the deal size was too large.
  2. Some investors were skeptical of the growth prospects in some of its European assets given these investors’ unfamiliarity with those markets.

 

Note:

  1. A spokesman for Cromwell Property Group declined to comment.
  2. A spokesman for SGX said that they cannot comment on specific companies.

See news here Cromwell REIT drops plans for Singapore IPO

 

Don’t worry! There are other Singapore REITs here to invest for passive income.

 

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Singapore REITs Bubble Charts Sept 2017

Bubble charts derived from September 3, 2017 Singapore REITs Fundamental Comparison Table. No significant movement compared to last Bubble Charts. The yield spread remains wide between big cap and small cap REITs. This means that value pick is in the small cap space if you know how to spot them.  Please take not that we have to be very cautious in the selection as some of those REITs have declining DPU for past few quarters. You may want to check out how to spot those problematic REITs here.

Disclaimer: The analysis is for Author own use and NOT to be used as Buy / Sell recommendation. Get a proper training on “How to use this Singapore REIT Bubble Charts?” here.

Original Post from http://mystocksinvesting.com

 

 

These Bubble Charts are used to show the “relative” position compare to other Singapore REITs.

Two visual bubble charts to pick and avoid:

  1. Undervalue Singapore REITs with High Distribution Yield** (Value Pick)
  2. Overvalue Singapore REITs with High Gearing Ratio (Risk Avoidance)

** Distribution Yield are lagging.

 

Compared to previous Singapore REIT Bubble Charts here.

 

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  • If you do not have time to do all the analysis and monitor the stock market, there is a solution for you … REITs Portfolio Advisory. I will help you to build a Diversified REITs portfolio for you. I will do all the work by selecting fundamental strong REIT, time the entry, monitor the quarterly earning performance, sell the weak REITs, etc.  http://mystocksinvesting.com/course/private-portfolio-review/

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CROMWELL European REIT (Cereit) IPO Prospectus Summary

 

OVERVIEW OF CEREIT
CEREIT is the first Singapore real estate investment trust (“REIT”) with a diversified Pan-European portfolio, established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of income-producing real estate assets in Europe that are used primarily for office, light industrial/logistics and retail purposes, as well as real estate-related assets in connection with the foregoing. The Manager is Cromwell EREIT Management Pte. Ltd., a wholly-owned subsidiary of the Sponsor.

Cromwell European REIT IPO Prospectus

 

  • Type = Office / Light Industrial / Logistic / Retail (Europe)
  • Sponsor = Cromwell Property Group (hold about 12.7% of the total number units)
  • Total Unit Offered = 1,583,955,000
  • Capitalization = Euro 1,814.8 million (based on the Maximum Offering Price)
  • Portfolio = 81 (Denmark, France, Germany, Italy, the Netherlands and Poland)
  • Portfolio Size @ IPO = Euro 1,834 million (approximately S$2,990 million)
  • IPO Offer Price = Between Euro 0.55 to Euro 0.57
  • Number of units in issue = 2,192,000,000
  • NAV = Euro 0.54
  • Price / NAV = between 1.0185  to 1.0555
  • Distribution Yield = 7.5% to 7.7%
  • Distribution Policy = 100% (until 2019), thereafter (at least 90%). Semi-annual.
  • WALE = 5.1 Years
  • Tenant > 1000 leases
  • Occupancy Rate = 89.3%
  • Gearing Ratio = 34.3%
  • Plan Listing: September 28, 2017
  • Application period = Sept 21 to Sept 26, 2017

 

Portfolio

 

REIT Structure

 

 

Sponsor

Macro – Eurozone

 

Cromwell European REIT (CEREIT) IPO Listing Time Table

 

 

Compare to other Singapore REITs here.

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REITs Investing Course

REITs Portfolio Advisory