SGX welcomes Croesus Retail Trust to Mainboard
Singapore Exchange (SGX) is pleased to welcome the listing of Croesus Retail Trust on Mainboard under the stock code “S6NU”.
Croesus Retail Trust is the first retail business trust with an Asia Pacific mandate to list on SGX. It has an initial portfolio of four retail malls in Japan. Daiwa House, a real estate group, and Marubeni, the trading company, are strategic partners and unit-holders of the Trust.
Jeremy Yong, Group Managing Director of Croesus Merchants International (the Sponsor) and Non-Executive Director of the Croesus Retail Asset Management, said “The depth and exponential growth in recent years of Singapore’s REIT and Business Trust markets makes the SGX a logical venue of choice for CRT’s listing . We are proud that our offering has received overwhelming interest in what is teeing up to be an exciting year for REITs and Business Trust IPOs in Singapore.”
Jim Chang, Executive Director and Chief Executive Officer of Croesus Retail Asset Management added, “Croesus Retail Trust's debut on the Singapore Exchange today marks the start of our commitment to deliver long-term capital value and returns to our investors. We would like to thank the Singapore Exchange for all their assistance and advice, and we look forward to working in close co-operation with them for the many years to come.”
“We are proud to have Croesus Retail Trust joining our Mainboard, and adding to the already substantial cluster of REITs and property trusts on our exchange. The investor response achieved by Croesus Retail Trust with its portfolio of Japanese properties affirms SGX as the preferred listing venue for international issuers and investors alike,” said Magnus Bocker (???•????), CEO of SGX.
The listing of Croesus Retail Trust with a market capitalisation of S$396 million brings the total number of REITs and property trusts listed on SGX to 32 with a combined market capitalisation of nearly S$70 billion.
About Croesus Retail Trust
Croesus Retail Trust (“CRT”) is the first Asia-Pacific retail business trust with an initial portfolio located in Japan to be listed on Singapore Exchange. CRT’s principal investment strategy is to invest in a diversified portfolio of predominantly retail real estate assets located in the Asia-Pacific region and real estate-related assets relating to the foregoing. The initial portfolio is located in Japan in order to create a core portfolio of stable income generating assets. This core portfolio would serve as a foundation for CRT to pursue development and acquisition opportunities in the Asia-Pacific region, including Japan, to generate long-term capital value and long-term returns.
About Singapore Exchange (SGX)
Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia’s most internationalised exchange with more than 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world’s biggest offshore market for Asian equity futures, centred on Asia’s three largest economies – China, India and Japan.
In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia’s pioneering central clearing house. Headquartered in Asia’s most globalised city, and centred within the AAA strength and stability of Singapore’s island nation, SGX is a peerless Asian counterparty for the clearing of financial and commodity products.