Cromwell European REIT (CEREIT) IPO Balloting Result

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Cromwell European REIT (“CEREIT” or “Crownwell”) announced that its public offering was 3.1x subscribed. The over-allotment option was exercised as well.

Cromwell European REIT IPO Balloting Result announcement.

See the summary of Cromwell European REIT IPO Prospectus here.

Symbol for Cromwell European REIT (CEREIT) in Singapore Stock Exchange is CNNU.SI

Compare to other Singapore REITs here.

 

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Cromwell European REIT (CEREIT) revives IPO Plan – Updated IPO Summary

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Cromwell revives pan-Europe Reit listing

Latest Cromwell European REIT IPO Prospectus  Total 1058 pages.

See previous Cromwell European REIT IPO Prospectus here.

  • Type = Office / Light Industrial / Logistic / Retail (Europe)
  • Sponsor = Cromwell Property Group (hold about 35.8% of the total number units)
  • Total Unit Offered = 1,573,990,000
  • Capitalization = €1,360.1 million
  • Portfolio = 74 (Denmark, France, Germany, Italy and the Netherlands)
  • Portfolio Size @ IPO =  €1.35 billion
  • IPO Offer Price = €0.55
  • Number of units in issue = About 428.54 million
  • NAV = €0.53
  • Price / NAV = 1.038
  • Distribution Yield = 7.8%
  • Distribution Policy = 100% (until 2019), thereafter (at least 90%). Semi-annual.
  • WALE = 4.9 Years
  • Tenant > 700 leases
  • Occupancy Rate = 87.7%
  • Gearing Ratio = 37.2%
  • WADM = 4.0 Years
  • Plan Listing: Nov 30, 2017
  • Application period = Nov 22 to Nov 28, 2017

 

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Portfolio

 

 

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Debt Profile

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REIT Structure

 

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Shareholders

 

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Cromwell European REIT 2018 DPU Yield Comparison

 

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Euro SGD Exchange Rate

 

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Cromwell European REIT Indicative IPO Timetable

 

Compare to other Singapore REITs here.

Check below on other events:

REITs Investing Course

REITs Portfolio Advisory 

 

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Singapore REITs Bubble Charts Nov 2017

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Bubble charts derived from Nov 5, 2017 Singapore REITs Fundamental Comparison Table. There are slight movement compared to last Bubble Charts.  Yield for some of the big cap REIT drop further after the movement in the stock price. Some of the REIT become extremely over value (e.g. Parkway Life REIT and Keppel DC REIT). 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 https://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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