HONG KONG, Apr 25: Croesus Retail Trust (CRT), which focuses on retail real estate in Japan, launched a $292 million Singapore initial public offering on Thursday, a person with direct knowledge of the plans said.
The trust, which is part-owned by Marubeni Corp. And Daiwa House Industry Co. Ltd., is offering 391.1 million units at a price of S$0.93 each, putting the total deal at S$363.7 million ($292.4 million), according to the source, who was not authorized to speak publicly on the matter.
Cornerstone investors including fund managers Eastpring Investments and Myriad Asset Management, as well as hedge funds D.E. Shaw and Citadel, agreed to buy $122 million worth of the units, according to a prospectus of the offering.
Citigroup and DBS Group Holdings are managing the deal. ($1 = 1.2435 Singapore dollars)
(AGENCIES)
Follow our WhatsApp channel